Cameco Target of Unusually Large Options Trading (NYSE:CCJ)

Cameco Corporation (NYSE:CCJ) (TSE:CCO) was the recipient of unusually large options trading activity on Thursday. Traders acquired 28,210 put options on the company. This represents an increase of 942% compared to the average volume of 2,706 put options.

Cameco Stock Down 2.7%

CCJ stock opened at $106.48 on Friday. The stock has a market cap of $46.38 billion, a P/E ratio of 109.78 and a beta of 0.98. The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14. Cameco has a twelve month low of $35.00 and a twelve month high of $135.24. The company’s 50 day moving average is $117.07 and its two-hundred day moving average is $98.53.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.07. The business had revenue of $874.57 million during the quarter, compared to analysts’ expectations of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.36 EPS. Research analysts expect that Cameco will post 1.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CCJ has been the subject of several recent analyst reports. The Goldman Sachs Group restated a “buy” rating and set a $131.00 price objective on shares of Cameco in a research report on Wednesday, February 4th. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Weiss Ratings upgraded shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Sanford C. Bernstein reissued an “outperform” rating and set a $147.00 target price on shares of Cameco in a research note on Thursday, February 5th. Finally, Royal Bank Of Canada lifted their price objective on shares of Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Thirteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $150.40.

Hedge Funds Weigh In On Cameco

Several hedge funds have recently made changes to their positions in CCJ. Nisa Investment Advisors LLC purchased a new stake in shares of Cameco in the 4th quarter valued at about $25,000. Financial Consulate Inc. acquired a new stake in shares of Cameco in the 3rd quarter valued at about $25,000. Founders Capital Management purchased a new position in Cameco during the 4th quarter worth approximately $27,000. Mcguire Capital Advisors Inc. purchased a new position in Cameco during the 4th quarter worth approximately $28,000. Finally, Caitong International Asset Management Co. Ltd increased its position in Cameco by 30,700.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock worth $28,000 after buying an additional 307 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Company Profile

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.