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

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

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Glj Research boosted their price target on Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a report on Wednesday, March 12th. StockNews.com upgraded Cameco from a “sell” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $90.00 price objective on shares of Cameco in a report on Tuesday, March 4th. Stifel Nicolaus assumed coverage on Cameco in a report on Wednesday, March 12th. They set a “buy” rating for the company. Finally, Stifel Canada upgraded Cameco to a “strong-buy” rating in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $73.64.

Institutional Investors Weigh In On Cameco

A number of institutional investors have recently modified their holdings of the stock. Sierra Ocean LLC acquired a new stake in Cameco during the fourth quarter worth about $25,000. Hurley Capital LLC acquired a new stake in Cameco during the fourth quarter worth about $27,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Cameco in the fourth quarter valued at approximately $28,000. Pingora Partners LLC acquired a new stake in shares of Cameco in the third quarter valued at approximately $33,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Cameco in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Stock Performance

NYSE:CCJ opened at $44.62 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The firm has a 50-day moving average of $47.03 and a two-hundred day moving average of $50.01. The stock has a market cap of $19.42 billion, a P/E ratio of 159.34 and a beta of 1.04. Cameco has a 1-year low of $35.43 and a 1-year high of $62.55.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. The company had revenue of $845.54 million during the quarter, compared to analysts’ expectations of $1.09 billion. Cameco had a net margin of 5.39% and a return on equity of 4.34%. On average, research analysts expect that Cameco will post 1.27 earnings per share for the current fiscal year.

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.