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

Key Points

• Unusually large put activity: Traders bought 28,210 put options on Cameco, roughly a 942% increase over the typical daily put volume of 2,706, indicating heavy bearish bets or hedging.
• Quarterly beat and stock jump: Cameco reported EPS of $0.36 vs. consensus $0.29 and revenue of $874.6M vs. $782.1M, and shares rose about 7.7% to open at $123.08.
• Institutional support and analyst outlook: Institutions own 70.21% of the stock, and analysts have a consensus Moderate Buy rating with an average price target of $150.40 (12 Buy, 3 Hold).

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO was the target of unusually large options trading on Thursday. Traders acquired 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCJ. Bison Wealth LLC increased its position in Cameco by 16.1% during the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company's stock valued at $1,102,000 after buying an additional 2,975 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Cameco by 16.6% in the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company's stock worth $393,000 after buying an additional 1,361 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Cameco by 48.7% in the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company's stock worth $349,000 after buying an additional 2,780 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Cameco by 11.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company's stock worth $24,895,000 after buying an additional 64,512 shares during the last quarter. Finally, NewGen Equity Long Short Fund purchased a new position in Cameco during the second quarter valued at $14,252,000. Institutional investors own 70.21% of the company's stock.

Cameco Trading Up 7.7%

NYSE CCJ opened at $123.08 on Friday. Cameco has a fifty-two week low of $44.52 and a fifty-two week high of $135.24. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47. The stock has a 50 day simple moving average of $114.95 and a two-hundred day simple moving average of $105.19. The stock has a market cap of $53.61 billion, a P/E ratio of 126.89, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.07. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The business had revenue of $874.57 million during the quarter, compared to analysts' expectations of $782.13 million. During the same quarter last year, the business posted $0.36 EPS. The business's revenue was up 1.5% on a year-over-year basis. On average, analysts forecast that Cameco will post 1.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CCJ shares. The Goldman Sachs Group restated a "buy" rating and issued a $131.00 target price on shares of Cameco in a research note on Wednesday, February 4th. TD Securities lowered Cameco from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 26th. Glj Research restated a "buy" rating and issued a $171.20 target price (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Sanford C. Bernstein restated an "outperform" rating and issued a $147.00 target price on shares of Cameco in a research note on Thursday, February 5th. Finally, Canadian Imperial Bank of Commerce increased their price objective on Cameco to $202.00 in a research report on Monday, March 9th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Cameco currently has an average rating of "Moderate Buy" and a consensus price target of $150.40.

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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