Cameco Sees Unusually High Options Volume (NYSE:CCJ)

Key Points

• Cameco Corporation experienced a surge in trading activity, with 28,210 put options acquired, representing a significant 942% increase from its average daily volume.
• Analysts have set a consensus target price of $89.55 for Cameco, with multiple firms, including UBS and Goldman Sachs, issuing positive ratings and price increases based on strong market performance.
• Institutional investors hold approximately 70.21% of Cameco's shares, with significant increases in holdings from major firms such as Vanguard and AllianceBernstein.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO was the target of some unusual options trading activity on Thursday. Stock traders acquired 28,210 put options on the company. This is 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 analysts recently weighed in on the stock. UBS Group set a $102.00 target price on shares of Cameco in a research report on Tuesday, September 9th. Scotiabank reaffirmed an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. The Goldman Sachs Group raised their target price on shares of Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Raymond James Financial reaffirmed an "outperform" rating on shares of Cameco in a research report on Tuesday, September 2nd. Finally, Royal Bank Of Canada raised their target price on shares of Cameco from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $89.55.

Institutional Trading of Cameco

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Cameco by 2.8% during the second quarter. Vanguard Group Inc. now owns 17,565,529 shares of the basic materials company's stock worth $1,304,504,000 after acquiring an additional 481,171 shares during the period. Alliancebernstein L.P. increased its position in Cameco by 39.3% during the first quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company's stock worth $578,226,000 after acquiring an additional 3,959,837 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Cameco by 41.4% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company's stock worth $524,988,000 after acquiring an additional 2,071,373 shares during the period. Norges Bank bought a new position in Cameco during the second quarter worth about $341,736,000. Finally, AGF Management Ltd. increased its position in Cameco by 19.0% during the first quarter. AGF Management Ltd. now owns 4,037,646 shares of the basic materials company's stock worth $166,206,000 after acquiring an additional 644,413 shares during the period. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Stock Performance

NYSE CCJ opened at $84.15 on Friday. The firm has a 50-day moving average of $78.61 and a 200-day moving average of $63.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96. The stock has a market cap of $36.64 billion, a PE ratio of 96.73 and a beta of 0.99. Cameco has a 52-week low of $35.00 and a 52-week high of $89.13.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.22. The company had revenue of $467.72 million during the quarter, compared to analysts' expectations of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. Cameco's quarterly revenue was up 46.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.14 EPS. Cameco has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Cameco will post 1.27 EPS 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.

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