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

Cameco Corporation (NYSE:CCJ) (TSE:CCO) was the target of unusually large options trading on Monday. Stock traders bought 28,800 put options on the stock. This is an increase of 36% compared to the typical daily volume of 21,232 put options.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Weiss Ratings downgraded Cameco from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $135.00 price target on shares of Cameco in a research note on Monday, June 15th. Royal Bank Of Canada increased their price objective on shares of Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. Barclays initiated coverage on shares of Cameco in a research note on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price objective for the company. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Cameco in a report on Wednesday, May 6th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $148.11.

Cameco Stock Performance

Shares of CCJ stock traded down $5.87 during trading hours on Monday, reaching $90.12. The company had a trading volume of 6,231,758 shares, compared to its average volume of 3,677,575. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08. The business has a fifty day moving average price of $106.85 and a 200-day moving average price of $110.94. Cameco has a one year low of $68.96 and a one year high of $135.24. The firm has a market cap of $39.25 billion, a PE ratio of 83.44, a price-to-earnings-growth ratio of 1.69 and a beta of 1.02.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The company had revenue of $607.49 million for the quarter, compared to the consensus estimate of $598.63 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. Sell-side analysts predict that Cameco will post 1.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cameco

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Cameco by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock worth $1,653,639,000 after buying an additional 258,193 shares during the last quarter. Capital World Investors grew its holdings in shares of Cameco by 0.3% in the fourth quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock worth $1,240,047,000 after acquiring an additional 41,430 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Cameco by 0.7% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company’s stock valued at $1,089,080,000 after acquiring an additional 85,762 shares during the last quarter. Van ECK Associates Corp increased its position in Cameco by 15.6% during the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock valued at $575,771,000 after acquiring an additional 849,188 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in Cameco by 7.0% in the fourth quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company’s stock valued at $455,468,000 after acquiring an additional 323,693 shares during the period. 70.21% of the stock is owned by institutional investors.

About Cameco

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.