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

Cameco Co. (NYSE:CCJ) (TSE:CCO) was the recipient of unusually large options trading on Thursday. Traders acquired 28,210 put options on the company. This is an increase of approximately 942% compared to the average daily volume of 2,706 put options.

Cameco Price Performance

Shares of NYSE CCJ opened at $58.02 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 1.48. The firm’s 50 day simple moving average is $44.42 and its 200-day simple moving average is $47.66. Cameco has a 12 month low of $35.43 and a 12 month high of $58.65. The stock has a market capitalization of $25.25 billion, a price-to-earnings ratio of 148.76 and a beta of 0.90.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). Cameco had a return on equity of 5.63% and a net margin of 9.72%. The firm had revenue of $598.00 million during the quarter, compared to analyst estimates of $756.00 million. The company’s revenue was up 24.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.01) EPS. Analysts expect that Cameco will post 0.83 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Citizens Bank & Trust Co. lifted its holdings in Cameco by 19.2% during the third quarter. First Citizens Bank & Trust Co. now owns 4,964 shares of the basic materials company’s stock valued at $237,000 after purchasing an additional 798 shares in the last quarter. Blue Trust Inc. lifted its stake in Cameco by 68.8% in the 3rd quarter. Blue Trust Inc. now owns 1,575 shares of the basic materials company’s stock valued at $77,000 after buying an additional 642 shares in the last quarter. Moss Adams Wealth Advisors LLC acquired a new stake in Cameco in the 3rd quarter worth about $441,000. Sunpointe LLC increased its stake in Cameco by 8.3% during the 3rd quarter. Sunpointe LLC now owns 15,043 shares of the basic materials company’s stock worth $718,000 after buying an additional 1,150 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. lifted its position in shares of Cameco by 33.3% in the third quarter. Jamison Private Wealth Management Inc. now owns 6,718 shares of the basic materials company’s stock valued at $321,000 after acquiring an additional 1,678 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CCJ shares. Scotiabank cut their price objective on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. National Bank Financial raised shares of Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Bank of America upped their target price on Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Glj Research restated a “buy” rating and issued a $63.73 price objective on shares of Cameco in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Cameco currently has a consensus rating of “Buy” and an average price target of $66.56.

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.