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

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CCJ. National Bank Financial upgraded Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Glj Research restated a “buy” rating and set a $63.73 price target on shares of Cameco in a research note on Wednesday, August 14th. The Goldman Sachs Group lifted their price objective on shares of Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. Finally, Scotiabank lowered their price target on Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. One research analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $67.25.

Cameco Trading Up 8.1 %

Shares of Cameco stock opened at $44.39 on Friday. The stock has a market cap of $19.32 billion, a PE ratio of 113.82 and a beta of 0.90. The firm has a fifty day moving average price of $41.76 and a 200 day moving average price of $46.47. Cameco has a 1 year low of $35.18 and a 1 year high of $56.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 1.48.

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 (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.14). The company had revenue of $598.00 million during the quarter, compared to analyst estimates of $756.00 million. Cameco had a net margin of 9.72% and a return on equity of 5.63%. The business’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.01) EPS. Equities research analysts predict that Cameco will post 0.96 earnings per share for the current year.

Hedge Funds Weigh In On Cameco

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Cameco by 1.3% in the first quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company’s stock valued at $689,306,000 after purchasing an additional 200,871 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Cameco by 2.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,711,154 shares of the basic materials company’s stock worth $593,967,000 after purchasing an additional 288,400 shares during the last quarter. Capital World Investors lifted its stake in Cameco by 1.6% in the 1st quarter. Capital World Investors now owns 13,708,235 shares of the basic materials company’s stock valued at $593,524,000 after buying an additional 215,741 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Cameco by 3.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,514,500 shares of the basic materials company’s stock valued at $282,210,000 after buying an additional 202,157 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in Cameco by 6.8% in the 2nd quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock worth $204,672,000 after buying an additional 265,196 shares during the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

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.