Traders Purchase Large Volume of Put Options on Cameco (NYSE:CCJ)

Key Points

• Put-option activity surged: Traders purchased 26,363 Cameco put options, about 28% above typical volume, signaling increased hedging or bearish speculation.
• Second-quarter results disappointed: Cameco reported adjusted EPS of approximately $0.13 versus estimates near $0.25–$0.26, while revenue fell 6.8% year over year. Fiscal 2026 revenue guidance remained unchanged at roughly $2.4 billion–$2.6 billion.
• Longer-term outlook remains supported: Cameco highlighted continued policy and utility support for nuclear energy, and Westinghouse’s confidential IPO filing could unlock value and provide capital for growth. Analysts maintain a “Moderate Buy” consensus with a $146.18 target price.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO was the recipient of unusually large options trading on Friday. Stock traders bought 26,363 put options on the company. This is an increase of approximately 28% compared to the typical volume of 20,624 put options.

Wall Street Analysts Forecast Growth

CCJ has been the subject of several research analyst reports. Weiss Ratings downgraded Cameco from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, June 4th. Scotiabank restated an "outperform" rating and set a $175.00 price target on shares of Cameco in a research report on Wednesday, May 6th. William Blair started coverage on shares of Cameco in a research note on Monday, April 20th. They issued an "outperform" rating on the stock. Citigroup restated a "positive" rating on shares of Cameco in a research report on Wednesday, July 15th. Finally, Bank of America decreased their price objective on Cameco from $143.00 to $140.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $146.18.

More Cameco News

Here are the key news stories impacting Cameco this week:

• Positive Sentiment: Westinghouse, in which Cameco is a major shareholder, confidentially submitted a draft registration statement for a proposed initial public offering. The listing could help establish a market value for the business, potentially unlock value for Cameco and provide capital to support Westinghouse’s growth. The IPO remains subject to regulatory review and market conditions. Cameco Announces Westinghouse IPO Filing
• Positive Sentiment: Cameco said its year-to-date performance remains on track, left its production outlook unchanged and highlighted growing policy and utility support for nuclear power. Management expects stronger long-term uranium prices as demand for nuclear fuel increases, supporting the company’s longer-term outlook. Cameco Second-Quarter Results
• Neutral Sentiment: Fiscal 2026 revenue guidance was maintained at approximately $2.4 billion to $2.6 billion, broadly consistent with analyst expectations. The unchanged outlook limits the risk of a major forecast reduction but offers little near-term upside surprise.
• Negative Sentiment: Second-quarter earnings missed consensus estimates. Cameco reported approximately $0.18 in EPS, or $0.13 on the Zacks-adjusted measure, versus estimates near $0.25-$0.26; revenue declined 6.8% year over year. Profit also fell substantially from the prior-year quarter, raising concerns about near-term operating performance despite the unchanged production outlook. Cameco Q2 Earnings Miss
• Negative Sentiment: Investors purchased about 26,363 put options on Cameco, roughly 28% above typical volume. While options activity does not guarantee a decline, the increase suggests elevated hedging or bearish speculation around the earnings release.

Cameco Stock Down 2.7%

Shares of NYSE CCJ traded down $2.42 during midday trading on Friday, hitting $85.81. The company's stock had a trading volume of 3,722,876 shares, compared to its average volume of 3,714,081. The business's fifty day simple moving average is $99.82 and its two-hundred day simple moving average is $110.08. The firm has a market capitalization of $37.37 billion, a price-to-earnings ratio of 79.50, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. Cameco has a 1 year low of $68.96 and a 1 year high of $135.24.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.05. The company had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The business's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.16 earnings per share. On average, equities analysts predict that Cameco will post 1.34 EPS for the current year.

Hedge Funds Weigh In On Cameco

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Cameco by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company's stock valued at $1,653,639,000 after acquiring an additional 258,193 shares in the last quarter. Capital World Investors increased its holdings in Cameco by 0.3% in the 4th quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company's stock valued at $1,240,047,000 after purchasing an additional 41,430 shares in the last quarter. Van ECK Associates Corp raised its position in Cameco by 15.6% in the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company's stock valued at $575,771,000 after purchasing an additional 849,188 shares during the period. Morgan Stanley lifted its stake in shares of Cameco by 7.0% during the fourth quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company's stock worth $455,468,000 after purchasing an additional 323,693 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Cameco during the fourth quarter worth about $443,265,000. Hedge funds and other institutional investors own 70.21% of the company's stock.

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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