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

Key Points

• Investors bought an unusually large number of put options on Cameco — 28,210 puts on Thursday, about a 942% increase versus the average daily put volume of 2,706.
• Analyst sentiment is broadly positive with 11 Buy ratings and 3 Hold ratings, an average MarketBeat rating of "Moderate Buy" and an average price target of $150.40, though firms have recently issued both upgrades and downgrades.
• Cameco shares traded around $120.44 (52‑week range $38.97–$135.24); the company beat quarterly expectations with EPS of $0.36 and revenue of $874.6M, and has a market cap of about $52.5B and a P/E of 124.17.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO was the recipient of unusually large options trading on Thursday. Stock investors bought 28,210 put options on the company. This represents an increase of 942% compared to the average daily volume of 2,706 put options.

Analyst Upgrades and Downgrades

CCJ has been the topic of a number of research reports. TD Securities cut shares of Cameco from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 26th. Canadian Imperial Bank of Commerce boosted their price objective on Cameco to $202.00 in a report on Monday, March 9th. Sanford C. Bernstein reissued an "outperform" rating and issued a $147.00 target price on shares of Cameco in a research report on Thursday, February 5th. Royal Bank Of Canada upped their price target on shares of Cameco from $150.00 to $160.00 and gave the company an "outperform" rating in a research report on Tuesday, February 17th. Finally, Zacks Research cut Cameco from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 18th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $150.40.

Cameco Stock Up 1.1%

Shares of CCJ opened at $120.44 on Friday. Cameco has a 52 week low of $38.97 and a 52 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 firm has a market capitalization of $52.46 billion, a P/E ratio of 124.17 and a beta of 1.02. The company has a 50-day simple moving average of $114.01 and a 200-day simple moving average of $102.71.

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, beating 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 company 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 company posted $0.36 EPS. The company's revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts expect that Cameco will post 1.27 earnings per share for the current year.

Institutional Trading of Cameco

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCJ. Terra Nova Asset Management LLC grew its holdings in Cameco by 3.0% during the 1st quarter. Terra Nova Asset Management LLC now owns 37,598 shares of the basic materials company's stock worth $4,084,000 after acquiring an additional 1,079 shares during the period. Connective Portfolio Management LLC acquired a new position in shares of Cameco in the 1st quarter valued at $1,008,000. McAlvany Wealth Management LLC bought a new position in shares of Cameco in the 4th quarter worth $812,000. Purpose Unlimited Inc. bought a new stake in Cameco in the fourth quarter valued at about $6,436,000. Finally, Rockefeller Capital Management L.P. lifted its stake in Cameco by 6.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 154,926 shares of the basic materials company's stock valued at $14,174,000 after buying an additional 9,826 shares during the period. 70.21% of the stock is owned by institutional investors.

About Cameco

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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