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

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

Analysts Set New Price Targets

A number of research analysts have weighed in on CCJ shares. Scotiabank reissued an "outperform" rating on shares of Cameco in a research note on Tuesday, July 8th. Wall Street Zen raised shares of Cameco from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. The Goldman Sachs Group boosted their price target on shares of Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Desjardins began coverage on shares of Cameco in a report on Friday, April 4th. They issued a "buy" rating for the company. Finally, Royal Bank Of Canada increased their price target on shares of Cameco from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Cameco has an average rating of "Buy" and a consensus target price of $80.65.

Hedge Funds Weigh In On Cameco

A number of hedge funds have recently made changes to their positions in CCJ. Manchester Capital Management LLC raised its stake in shares of Cameco by 100.0% in the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 300 shares during the period. Hurley Capital LLC purchased a new position in shares of Cameco in the 4th quarter valued at $27,000. Dagco Inc. purchased a new position in shares of Cameco in the 1st quarter valued at $28,000. SVB Wealth LLC purchased a new position in shares of Cameco in the 1st quarter valued at $29,000. Finally, Trust Co. of Vermont increased its stake in Cameco by 1,029.4% during the 2nd quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company's stock worth $29,000 after buying an additional 350 shares during the period. Hedge funds and other institutional investors own 70.21% of the company's stock.

Cameco Trading Down 0.6%

NYSE CCJ traded down $0.48 during mid-day trading on Monday, reaching $79.12. 3,533,192 shares of the stock were exchanged, compared to its average volume of 4,692,879. Cameco has a 1-year low of $35.00 and a 1-year high of $80.06. The business's fifty day simple moving average is $68.63 and its 200 day simple moving average is $53.67. The stock has a market capitalization of $34.45 billion, a PE ratio of 197.80 and a beta of 1.03. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.26 and a current ratio of 2.70.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). The company had revenue of $549.58 million during the quarter, compared to analyst estimates of $890.07 million. Cameco had a net margin of 7.50% and a return on equity of 4.47%. The firm's revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.13 EPS. On average, research analysts anticipate that Cameco will post 1.27 earnings per share for the current fiscal year.

About Cameco

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.