Traders Purchase Large Volume of Put Options on Cameco (NYSE:CCJ)

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

Cameco Price Performance

NYSE CCJ opened at $52.92 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.69 and a current ratio of 1.42. Cameco has a 1 year low of $29.17 and a 1 year high of $56.24. The business’s fifty day moving average is $50.86 and its two-hundred day moving average is $46.56. The stock has a market capitalization of $23.00 billion, a P/E ratio of 135.69 and a beta of 0.93.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.23). The business had revenue of $470.29 million for the quarter. Cameco had a return on equity of 4.60% and a net margin of 9.28%. On average, research analysts forecast that Cameco will post 1.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. StockNews.com downgraded shares of Cameco from a “hold” rating to a “sell” rating in a report on Thursday, April 4th. The Goldman Sachs Group raised their target price on Cameco from $56.00 to $62.00 and gave the company a “buy” rating in a report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cameco presently has an average rating of “Moderate Buy” and an average target price of $64.50.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Venturi Wealth Management LLC raised its holdings in shares of Cameco by 235.3% in the 1st quarter. Venturi Wealth Management LLC now owns 570 shares of the basic materials company’s stock worth $25,000 after buying an additional 400 shares in the last quarter. LRI Investments LLC bought a new stake in Cameco in the first quarter valued at $26,000. Principal Securities Inc. acquired a new position in Cameco during the fourth quarter worth $29,000. Versant Capital Management Inc bought a new position in shares of Cameco during the fourth quarter valued at $34,000. Finally, Sandy Spring Bank acquired a new stake in shares of Cameco in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

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.