Stock Traders Purchase High Volume of Cameco Put Options (NYSE:CCJ)

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CCJ shares. Scotiabank reiterated an "outperform" rating on shares of Cameco in a research note on Tuesday. UBS Group reiterated a "buy" rating on shares of Cameco in a research note on Tuesday, June 10th. Raymond James Financial restated an "outperform" rating on shares of Cameco in a research note on Wednesday, June 18th. Royal Bank Of Canada lifted their price target on Cameco from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. Finally, The Goldman Sachs Group lifted their price target on Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $80.65.

Cameco Trading Up 2.6%

CCJ traded up $1.84 during trading hours on Friday, reaching $72.66. The company's stock had a trading volume of 4,030,292 shares, compared to its average volume of 4,554,681. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.70 and a quick ratio of 1.26. The business's 50-day moving average is $62.07 and its 200-day moving average is $51.53. Cameco has a fifty-two week low of $35.00 and a fifty-two week high of $75.42. The stock has a market cap of $31.63 billion, a PE ratio of 181.65 and a beta of 1.03.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Manchester Capital Management LLC increased its position in shares of Cameco by 100.0% during the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock worth $25,000 after acquiring an additional 300 shares during the period. Hurley Capital LLC purchased a new stake in shares of Cameco during the fourth quarter worth $27,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Cameco during the fourth quarter worth $28,000. Dagco Inc. purchased a new stake in shares of Cameco during the first quarter worth $28,000. Finally, SVB Wealth LLC purchased a new stake in shares of Cameco during the first quarter worth $29,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

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.