Cameco Sees Unusually Large Options Volume (NYSE:CCJ)

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO saw unusually large options trading on Thursday. Stock traders bought 28,210 put options on the company. This represents an increase of 942% compared to the average volume of 2,706 put options.

Cameco Stock Down 0.4%

Shares of NYSE:CCJ traded down $0.20 during mid-day trading on Wednesday, hitting $52.20. 3,068,597 shares of the company traded hands, compared to its average volume of 4,104,158. The firm has a market cap of $22.72 billion, a P/E ratio of 186.41 and a beta of 0.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. Cameco has a 52-week low of $35.00 and a 52-week high of $62.55. The firm's 50 day simple moving average is $44.31 and its 200 day simple moving average is $48.86.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its earnings results on Thursday, May 1st. The basic materials company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.07). The company had revenue of $549.58 million for the quarter, compared to analysts' expectations of $890.07 million. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The business's quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 earnings per share. On average, equities analysts anticipate that Cameco will post 1.27 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Cameco in a report on Tuesday. They issued a "buy" rating and a $65.00 price objective on the stock. Stifel Nicolaus assumed coverage on Cameco in a report on Wednesday, March 12th. They issued a "buy" rating on the stock. StockNews.com upgraded Cameco from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Sanford C. Bernstein assumed coverage on Cameco in a report on Tuesday, April 1st. They issued an "outperform" rating and a $52.00 price objective on the stock. Finally, Stifel Canada upgraded Cameco to a "strong-buy" rating in a report on Wednesday, March 12th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $70.53.

Institutional Investors Weigh In On Cameco

Several hedge funds and other institutional investors have recently bought and sold shares of CCJ. Principal Financial Group Inc. increased its holdings in Cameco by 1,138.1% during the 3rd quarter. Principal Financial Group Inc. now owns 267,431 shares of the basic materials company's stock worth $12,774,000 after purchasing an additional 245,831 shares during the last quarter. Miracle Mile Advisors LLC increased its holdings in Cameco by 5.9% during the 4th quarter. Miracle Mile Advisors LLC now owns 8,845 shares of the basic materials company's stock worth $455,000 after purchasing an additional 495 shares during the last quarter. Floyd Financial Group LLC purchased a new stake in Cameco during the 4th quarter worth approximately $922,000. Park Avenue Securities LLC increased its holdings in Cameco by 12.0% during the 4th quarter. Park Avenue Securities LLC now owns 5,573 shares of the basic materials company's stock worth $286,000 after purchasing an additional 598 shares during the last quarter. Finally, Laurel Wealth Advisors LLC purchased a new stake in Cameco during the 4th quarter worth approximately $72,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

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.