Cameco Sees Unusually Large Options Volume (NYSE:CCJ)

Cameco Co. (NYSE:CCJ) (TSE:CCO) was the target of some unusual options trading on Thursday. Traders bought 28,210 put options on the company. This is an increase of 942% compared to the average volume of 2,706 put options.

Cameco Stock Performance

CCJ opened at $48.17 on Friday. The firm’s fifty day simple moving average is $43.72 and its two-hundred day simple moving average is $43.46. Cameco has a 52-week low of $25.11 and a 52-week high of $52.64. The company has a market cap of $20.92 billion, a price-to-earnings ratio of 80.28 and a beta of 0.92. The company has a quick ratio of 0.97, a current ratio of 1.55 and a debt-to-equity ratio of 0.21.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, February 8th. The basic materials company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.06). Cameco had a net margin of 13.97% and a return on equity of 5.61%. The firm had revenue of $620.00 million during the quarter. Equities analysts anticipate that Cameco will post 1.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cameco

Several hedge funds have recently bought and sold shares of CCJ. Principal Securities Inc. purchased a new position in Cameco in the 4th quarter valued at approximately $29,000. Allworth Financial LP raised its stake in shares of Cameco by 1,049.2% in the third quarter. Allworth Financial LP now owns 747 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 682 shares in the last quarter. Janiczek Wealth Management LLC boosted its holdings in Cameco by 210.4% in the third quarter. Janiczek Wealth Management LLC now owns 773 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 524 shares during the period. Versant Capital Management Inc acquired a new position in Cameco during the 4th quarter worth $34,000. Finally, Sandy Spring Bank purchased a new stake in Cameco during the 4th quarter worth about $43,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CCJ. The Goldman Sachs Group began coverage on Cameco in a research report on Monday, April 1st. They set a “buy” rating and a $55.00 target price for the company. StockNews.com lowered Cameco from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Cameco presently has an average rating of “Moderate Buy” and an average price target of $62.75.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.