Cameco Target of Unusually High Options Trading (NYSE:CCJ)

Key Points

• Traders bought 28,210 put options on Cameco, a 942% increase versus typical put volume, signaling unusually heavy bearish positioning or hedging activity.
• Cameco beat expectations with Q4 EPS of $0.36 (vs. $0.29 est.) and revenue of $874.6M (vs. $782.1M), and the stock trades near $114.20 with a market cap around $49.7B.
• Analyst sentiment has turned more positive with multiple upgrades and higher targets; the consensus rating is a “Moderate Buy” and the average price target is $143.03.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO was the target of some unusual options trading on Thursday. Traders acquired 28,210 put options on the company. This represents an increase of 942% compared to the typical volume of 2,706 put options.

Cameco Stock Performance

NYSE:CCJ opened at $114.20 on Friday. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14. Cameco has a twelve month low of $35.00 and a twelve month high of $135.24. The company has a fifty day moving average of $114.03 and a 200-day moving average of $95.95. The firm has a market capitalization of $49.74 billion, a P/E ratio of 117.73 and a beta of 0.98.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The business had revenue of $874.57 million for the quarter, compared to analyst estimates of $782.13 million. During the same period in the prior year, the firm earned $0.36 earnings per share. Cameco's revenue was up 1.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Cameco will post 1.27 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CCJ. Glj Research restated a "buy" rating and set a $171.20 price objective (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Weiss Ratings upgraded shares of Cameco from a "hold (c)" rating to a "buy (b-)" rating in a report on Monday, February 23rd. National Bank Financial reaffirmed an "outperform" rating on shares of Cameco in a research note on Thursday, November 6th. Royal Bank Of Canada increased their price objective on shares of Cameco from $150.00 to $160.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 17th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $131.00 target price on shares of Cameco in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Cameco has a consensus rating of "Moderate Buy" and an average price target of $143.03.

Institutional Trading of Cameco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCJ. Financial Consulate Inc. acquired a new stake in Cameco in the third quarter valued at approximately $25,000. Nisa Investment Advisors LLC bought a new position in shares of Cameco in the 4th quarter worth $25,000. Founders Capital Management acquired a new stake in Cameco in the 4th quarter valued at $27,000. Strategic Advocates LLC acquired a new stake in Cameco in the 3rd quarter valued at $28,000. Finally, Mcguire Capital Advisors Inc. bought a new stake in Cameco during the 4th quarter valued at $28,000. 70.21% of the stock is owned by institutional investors.

Cameco Company Profile

Cameco Corporation NYSE: CCJ is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company's operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.

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