Traders Buy Large 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 traders purchased 28,210 put options on the stock. This represents an increase of approximately 942% compared to the typical daily volume of 2,706 put options.

Cameco Stock Down 3.1 %

CCJ opened at $54.27 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The stock has a fifty day moving average of $55.27 and a 200-day moving average of $49.37. Cameco has a fifty-two week low of $35.43 and a fifty-two week high of $62.55. The company has a market capitalization of $23.62 billion, a P/E ratio of 286.70 and a beta of 0.91.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The business had revenue of $721.00 million during the quarter, compared to the consensus estimate of $646.83 million. During the same period in the prior year, the firm earned $0.24 EPS. The business’s revenue for the quarter was up 25.4% on a year-over-year basis. On average, equities analysts expect that Cameco will post 0.51 EPS for the current year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were issued a $0.118 dividend. The ex-dividend date was Wednesday, November 27th. This is a boost from Cameco’s previous annual dividend of $0.09. This represents a yield of 0.22%. Cameco’s payout ratio is currently 63.16%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CCJ shares. Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Scotiabank reduced their price objective on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Finally, National Bank Financial raised shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Cameco presently has a consensus rating of “Buy” and an average target price of $66.56.

Institutional Trading of Cameco

Several large investors have recently modified their holdings of CCJ. Thurston Springer Miller Herd & Titak Inc. lifted its position in Cameco by 71.5% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 238 shares during the period. Pingora Partners LLC acquired a new position in shares of Cameco in the 3rd quarter valued at approximately $33,000. First Horizon Advisors Inc. lifted its holdings in shares of Cameco by 84.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 351 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Cameco during the 3rd quarter worth approximately $38,000. Finally, LRI Investments LLC raised its position in Cameco by 39.0% during the second quarter. LRI Investments LLC now owns 834 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 234 shares in the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

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.