Cameco Sees Unusually Large Options Volume (NYSE:CCJ)

Key Points

• Cameco Corporation experienced a significant increase in options trading, with 28,210 put options traded—an increase of approximately 942% from the average daily volume.
• Key institutional investors like Vanguard Group, AllianceBernstein, and DZ BANK AG raised their stakes in Cameco, indicating strong confidence in the company's future prospects.
• Analysts generally maintain a positive outlook on Cameco, with a consensus buy rating and an average price target of $83.32, reflecting anticipated earnings growth.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO saw unusually large options trading activity on Thursday. Investors purchased 28,210 put options on the stock. Thisrepresentsanincreaseof942% compared to the average daily volume of 2,706 put options.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. TD Securities reaffirmed a "buy" rating on shares of Cameco in a research note on Tuesday, August 5th. Scotiabank reiterated an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. Glj Research restated a "buy" rating and issued a $75.27 price objective on shares of Cameco in a report on Thursday, June 12th. UBS Group reiterated a "buy" rating on shares of Cameco in a report on Tuesday, June 10th. Finally, Sanford C. Bernstein set a $70.00 price objective on shares of Cameco and gave the company an "outperform" rating in a research report on Tuesday, June 10th. Two analysts have rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $83.32.

Hedge Funds Weigh In On Cameco

Several large investors have recently made changes to their positions in the company. First Trust Advisors LP acquired a new position in Cameco during the fourth quarter worth $390,000. Northern Trust Corp grew its holdings in shares of Cameco by 50.8% during the fourth quarter. Northern Trust Corp now owns 367,299 shares of the basic materials company's stock worth $18,875,000 after buying an additional 123,684 shares in the last quarter. Bison Wealth LLC grew its holdings in shares of Cameco by 16.1% during the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company's stock worth $1,102,000 after buying an additional 2,975 shares in the last quarter. AXA S.A. grew its holdings in shares of Cameco by 433.8% during the fourth quarter. AXA S.A. now owns 20,194 shares of the basic materials company's stock worth $1,038,000 after buying an additional 16,411 shares in the last quarter. Finally, Baird Financial Group Inc. purchased a new stake in shares of Cameco during the fourth quarter worth $2,390,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Stock Performance

NYSE:CCJ traded up $1.33 during trading hours on Monday, hitting $77.18. 2,466,072 shares of the company were exchanged, compared to its average volume of 4,690,688. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. Cameco has a 52-week low of $35.00 and a 52-week high of $83.02. The company's 50 day moving average price is $75.69 and its 200-day moving average price is $59.14. The stock has a market capitalization of $33.60 billion, a price-to-earnings ratio of 88.71 and a beta of 1.04.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.29 by $0.22. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The business had revenue of $467.72 million during the quarter, compared to analysts' expectations of $819.79 million. During the same period in the previous year, the business posted $0.14 EPS. The business's quarterly revenue was up 46.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Cameco will post 1.27 earnings per share for the current 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.