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

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CCJ. StockNews.com cut shares of Cameco from a “hold” rating to a “sell” rating in a report on Thursday, April 4th. The Goldman Sachs Group started coverage on shares of Cameco in a research report on Monday, April 1st. They issued a “buy” rating and a $55.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cameco presently has a consensus rating of “Moderate Buy” and an average target price of $62.75.

Institutional Investors Weigh In On Cameco

Institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Securities Inc. purchased a new stake in shares of Cameco in the 4th quarter valued at approximately $29,000. Allworth Financial LP increased its stake in Cameco by 1,049.2% during the 3rd quarter. Allworth Financial LP now owns 747 shares of the basic materials company’s stock worth $30,000 after buying an additional 682 shares during the period. Janiczek Wealth Management LLC increased its stake in Cameco by 210.4% during the 3rd quarter. Janiczek Wealth Management LLC now owns 773 shares of the basic materials company’s stock worth $31,000 after buying an additional 524 shares during the period. Tyler Stone Wealth Management purchased a new stake in Cameco during the 2nd quarter worth approximately $32,000. Finally, Versant Capital Management Inc purchased a new stake in Cameco during the 4th quarter worth approximately $34,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Stock Performance

NYSE:CCJ opened at $48.11 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.55 and a quick ratio of 0.97. The firm has a market capitalization of $20.89 billion, a price-to-earnings ratio of 80.18 and a beta of 0.92. The company’s 50-day moving average is $43.81 and its two-hundred day moving average is $43.53. Cameco has a 1-year low of $25.11 and a 1-year high of $52.64.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Thursday, February 8th. The basic materials company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.06). The firm had revenue of $620.00 million during the quarter. Cameco had a net margin of 13.97% and a return on equity of 5.61%. Analysts forecast that Cameco will post 1.55 EPS for the current year.

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.