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

Cameco Corporation (NYSE:CCJ) (TSE:CCO) was the target of some unusual options trading activity on Monday. Traders bought 28,800 put options on the company. This is an increase of approximately 36% compared to the average volume of 21,232 put options.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Bison Wealth LLC raised its holdings in shares of Cameco by 16.1% in the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock worth $1,102,000 after buying an additional 2,975 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Cameco by 16.6% during the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock valued at $393,000 after buying an additional 1,361 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in shares of Cameco by 48.7% in the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after acquiring an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Cameco by 11.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock valued at $24,895,000 after acquiring an additional 64,512 shares during the period. Finally, NewGen Equity Long Short Fund purchased a new position in Cameco in the 2nd quarter worth $14,252,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Price Performance

Shares of NYSE CCJ opened at $91.68 on Wednesday. Cameco has a fifty-two week low of $68.96 and a fifty-two week high of $135.24. The company has a market cap of $39.93 billion, a PE ratio of 84.89, a P/E/G ratio of 1.59 and a beta of 1.02. 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 50-day simple moving average of $105.73 and a two-hundred day simple moving average of $110.91.

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

Key Cameco News

Here are the key news stories impacting Cameco this week:

• Positive Sentiment: Some analysts remain constructive on Cameco, pointing to strong uranium production, diversification from Westinghouse and Fuel Services, and a high price target that implies meaningful upside. Cameco Q2 Preview: Earnings Could Restart The Nuclear Rally
• Neutral Sentiment: Coverage comparing Cameco with Energy Fuels argued that CCJ is a weaker uranium opportunity today, though the view was based more on relative fundamentals than a fresh company-specific event. UUUU vs. CCJ: Which Uranium Stock Offers the Better Opportunity Today?
• Neutral Sentiment: A Seeking Alpha article also argued that Wall Street may be paying too much for Cameco’s long-term nuclear growth story, adding to the debate around valuation rather than changing the underlying business outlook. Cameco: Wall Street Is Paying Too Much For A Nuclear Dream
• Negative Sentiment: Investor concern increased after Cameco’s temporary Cigar Lake mining suspension, which raised questions about near-term production reliability and helped push the stock lower. Cameco Falls as Investors Weigh Mine Disruption and Softer Uranium Sentiment
• Negative Sentiment: Unusual trading in CCJ put options suggests traders were positioning for more downside, reinforcing the cautious tone around the stock.

Wall Street Analysts Forecast Growth

CCJ has been the subject of several research reports. William Blair assumed coverage on shares of Cameco in a research report on Monday, April 20th. They issued an “outperform” rating for the company. Barclays assumed coverage on shares of Cameco in a report on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price objective on the stock. Royal Bank Of Canada boosted their price objective on shares of Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. Bank of America lowered their target price on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Finally, Scotiabank reaffirmed an “outperform” rating and set a $175.00 target price on shares of Cameco in a research report on Wednesday, May 6th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $146.52.

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.