Stock Traders Buy High Volume of Cameco Put Options (NYSE:CCJ)

Cameco Corporation (NYSE:CCJ) (TSE:CCO) was the target of some unusual options trading on Thursday. Investors acquired 28,210 put options on the stock. This represents an increase of approximately 942% compared to the average daily volume of 2,706 put options.

Hedge Funds Weigh In On Cameco

Hedge funds have recently modified their holdings of the stock. McAlvany Wealth Management LLC purchased a new position in Cameco in the fourth quarter valued at about $812,000. Purpose Unlimited Inc. acquired a new position in Cameco in the 4th quarter worth about $6,436,000. Rockefeller Capital Management L.P. raised its stake in shares of Cameco by 6.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 154,926 shares of the basic materials company’s stock worth $14,174,000 after purchasing an additional 9,826 shares in the last quarter. World Investment Advisors purchased a new stake in shares of Cameco during the 4th quarter worth about $455,000. Finally, ARP Global Capital Ltd acquired a new stake in shares of Cameco during the 4th quarter valued at about $14,438,000. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Stock Up 1.2%

NYSE:CCJ opened at $112.52 on Friday. The business’s fifty day moving average price is $115.58 and its 200 day moving average price is $100.57. The firm has a market capitalization of $49.01 billion, a price-to-earnings ratio of 116.00 and a beta of 1.02. 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 1-year low of $35.00 and a 1-year high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The firm had revenue of $874.57 million during the quarter, compared to analyst estimates of $782.13 million. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $0.36 EPS. On average, sell-side analysts forecast that Cameco will post 1.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group reiterated a “buy” rating and issued a $131.00 price target on shares of Cameco in a research report on Wednesday, February 4th. Glj Research reaffirmed a “buy” rating and set a $171.20 price objective (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Canadian Imperial Bank of Commerce raised their target price on shares of Cameco to $202.00 in a report on Monday, March 9th. Raymond James Financial reissued an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Finally, Royal Bank Of Canada boosted their price target on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $150.40.

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.