Investors Purchase High Volume of Put Options on Cameco (NYSE:CCJ)

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CCJ. StockNews.com downgraded shares of Cameco from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th. Bank of America upped their target price on shares of Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a research note on Wednesday. Finally, The Goldman Sachs Group lifted their price target on Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Cameco has an average rating of “Moderate Buy” and an average price target of $63.70.

Hedge Funds Weigh In On Cameco

Several institutional investors have recently modified their holdings of the company. Hamilton Wealth LLC boosted its stake in Cameco by 76.3% during the 1st quarter. Hamilton Wealth LLC now owns 8,978 shares of the basic materials company’s stock valued at $389,000 after purchasing an additional 3,886 shares during the period. DekaBank Deutsche Girozentrale boosted its position in shares of Cameco by 22.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 124,821 shares of the basic materials company’s stock worth $5,338,000 after buying an additional 22,820 shares during the period. Beck Bode LLC increased its position in Cameco by 11.2% in the 1st quarter. Beck Bode LLC now owns 46,681 shares of the basic materials company’s stock valued at $2,022,000 after acquiring an additional 4,689 shares during the period. LRI Investments LLC bought a new stake in Cameco during the 1st quarter valued at $26,000. Finally, Strategic Wealth Partners Ltd. boosted its position in Cameco by 12.9% during the 1st quarter. Strategic Wealth Partners Ltd. now owns 180,655 shares of the basic materials company’s stock worth $7,826,000 after acquiring an additional 20,709 shares during the period. Institutional investors own 70.21% of the company’s stock.

Cameco Trading Up 2.5 %

NYSE CCJ opened at $51.76 on Friday. The firm has a market capitalization of $22.52 billion, a PE ratio of 132.72 and a beta of 0.93. Cameco has a one year low of $29.17 and a one year high of $56.24. The company has a 50-day simple moving average of $51.39 and a 200-day simple moving average of $47.00. 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 (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.23). Cameco had a return on equity of 4.60% and a net margin of 9.28%. The company had revenue of $470.29 million for the quarter. On average, equities analysts forecast that Cameco will post 1.38 earnings per share for the current year.

About Cameco

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.