Traders Buy High Volume of Put Options on Cameco (NYSE:CCJ)

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO saw unusually large options trading on Thursday. Investors bought 28,210 put options on the company. Thisrepresentsanincreaseofapproximately942% compared to the average daily volume of 2,706 put options.

Cameco Stock Performance

Shares of Cameco stock opened at $76.38 on Friday. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $71.68 and a two-hundred day moving average price of $55.04. Cameco has a 1-year low of $35.00 and a 1-year high of $80.32. The company has a market cap of $33.25 billion, a P/E ratio of 87.79 and a beta of 1.06.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its earnings results on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.29 by $0.22. The company had revenue of $467.72 million during the quarter, compared to the consensus estimate of $819.79 million. Cameco had a return on equity of 8.21% and a net margin of 14.97%. The firm's revenue for the quarter was up 46.7% compared to the same quarter last year. During the same period last year, the business posted $0.14 EPS. As a group, analysts anticipate that Cameco will post 1.27 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on CCJ shares. Scotiabank restated an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. Wall Street Zen raised shares of Cameco from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. The Goldman Sachs Group raised their price target on shares of Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. TD Securities reaffirmed a "buy" rating on shares of Cameco in a report on Tuesday. Finally, Sanford C. Bernstein set a $70.00 price objective on Cameco and gave the stock an "outperform" rating in a report on Tuesday, June 10th. Twelve equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $82.65.

Hedge Funds Weigh In On Cameco

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Capital Wealth Advisors purchased a new position in shares of Cameco in the fourth quarter worth about $839,000. Kayne Anderson Capital Advisors LP raised its holdings in Cameco by 41.6% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 40,407 shares of the basic materials company's stock valued at $1,663,000 after acquiring an additional 11,879 shares during the period. Nicholson Meyer Capital Management Inc. bought a new stake in Cameco during the 1st quarter valued at $350,000. Balefire LLC raised its holdings in Cameco by 42.9% during the 1st quarter. Balefire LLC now owns 33,601 shares of the basic materials company's stock valued at $1,383,000 after acquiring an additional 10,081 shares during the period. Finally, Galibier Capital Management Ltd. bought a new stake in Cameco during the 1st quarter valued at $11,655,000. Hedge funds and other institutional investors own 70.21% of the company's stock.

Cameco Company Profile

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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