Cameco Sees Unusually High Options Volume (NYSE:CCJ)

Key Points

• Cameco Corporation experienced a significant increase in options trading with 28,210 put options purchased, marking a 942% rise compared to the average volume.
• Analysts have demonstrated confidence in Cameco, with multiple upgrades and a consensus target price of $89.55, indicating a generally positive outlook for the company.
• The company's recent earnings report showed a 46.7% year-over-year revenue growth, reporting $0.51 EPS, surpassing estimates significantly.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO saw some unusual options trading on Thursday. Investors bought 28,210 put options on the stock. This is an increase of approximately 942% compared to the typical daily volume of 2,706 put options.

Institutional Trading of Cameco

Several institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Cameco in the 2nd quarter valued at $341,736,000. Alliancebernstein L.P. increased its position in shares of 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 purchasing an additional 3,959,837 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Cameco by 41.4% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company's stock valued at $524,988,000 after purchasing an additional 2,071,373 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Cameco by 215.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,031,332 shares of the basic materials company's stock valued at $83,636,000 after purchasing an additional 1,387,797 shares during the period. Finally, Temasek Holdings Private Ltd purchased a new position in Cameco during the 1st quarter worth approximately $55,513,000. Hedge funds and other institutional investors own 70.21% of the company's stock.

Cameco Stock Performance

CCJ stock traded down $0.03 during trading on Monday, hitting $86.15. 6,018,880 shares of the company traded hands, compared to its average volume of 4,216,081. The company has a market cap of $37.51 billion, a PE ratio of 99.03 and a beta of 1.04. Cameco has a 1 year low of $35.00 and a 1 year high of $87.15. The stock's 50-day simple moving average is $77.53 and its 200 day simple moving average is $61.86. 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 (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, beating the consensus estimate of $0.29 by $0.22. The firm 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%. The business's revenue was up 46.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.14 EPS. Cameco has set its FY 2025 guidance at EPS. On average, equities analysts expect that Cameco will post 1.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CCJ. Wall Street Zen cut shares of Cameco from a "buy" rating to a "hold" rating in a report on Monday, September 15th. National Bankshares restated an "outperform" rating on shares of Cameco in a research note on Friday, August 22nd. The Goldman Sachs Group lifted their price target on shares of Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Sanford C. Bernstein set a $70.00 price objective on Cameco and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. Finally, CLSA assumed coverage on shares of Cameco in a report on Tuesday, September 9th. They set an "outperform" rating and a $102.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company's stock. According to MarketBeat.com, Cameco currently has an average rating of "Buy" and an average target price of $89.55.

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.