Stock Traders Buy Large Volume of Cameco Put Options (NYSE:CCJ)

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

Cameco Stock Up 4.3%

Shares of NYSE CCJ opened at $74.49 on Friday. The stock has a market cap of $32.43 billion, a P/E ratio of 186.23 and a beta of 0.97. The company has a current ratio of 2.70, a quick ratio of 1.26 and a debt-to-equity ratio of 0.15. Cameco has a 12-month low of $35.00 and a 12-month high of $75.01. The business's fifty day simple moving average is $56.19 and its 200-day simple moving average is $50.27.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). The business had revenue of $549.58 million for the quarter, compared to analysts' expectations of $890.07 million. Cameco had a return on equity of 4.47% and a net margin of 7.50%. The firm's quarterly revenue was up 24.4% on a year-over-year basis. During the same period last year, the firm earned $0.13 earnings per share. As a group, equities analysts predict that Cameco will post 1.27 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on CCJ shares. Raymond James Financial reiterated an "outperform" rating on shares of Cameco in a research report on Wednesday, June 18th. Stifel Nicolaus started coverage on Cameco in a research report on Wednesday, March 12th. They issued a "buy" rating for the company. Sanford C. Bernstein set a $70.00 price objective on Cameco and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. UBS Group reiterated a "buy" rating on shares of Cameco in a research report on Tuesday, June 10th. Finally, Scotiabank restated an "outperform" rating on shares of Cameco in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $80.65.

Institutional Trading of Cameco

A number of institutional investors have recently bought and sold shares of the business. Nicola Wealth Management LTD. lifted its holdings in Cameco by 13.9% during the 1st quarter. Nicola Wealth Management LTD. now owns 41,000 shares of the basic materials company's stock worth $1,688,000 after buying an additional 5,000 shares during the last quarter. Militia Capital Partners LP lifted its holdings in Cameco by 24.2% during the 1st quarter. Militia Capital Partners LP now owns 6,680 shares of the basic materials company's stock worth $275,000 after buying an additional 1,300 shares during the last quarter. Turn8 Private Wealth Inc. increased its position in shares of Cameco by 35.4% during the first quarter. Turn8 Private Wealth Inc. now owns 64,453 shares of the basic materials company's stock worth $2,654,000 after purchasing an additional 16,861 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Cameco by 37.3% during the first quarter. Geneos Wealth Management Inc. now owns 12,026 shares of the basic materials company's stock worth $495,000 after purchasing an additional 3,268 shares in the last quarter. Finally, Belpointe Asset Management LLC acquired a new stake in shares of Cameco during the first quarter worth about $891,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

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.

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