Cameco Sees Unusually Large Options Volume (NYSE:CCJ)

Cameco Co. (NYSE:CCJ) (TSE:CCO) saw some unusual options trading activity on Thursday. Traders purchased 28,210 put options on the company. This represents an increase of 942% compared to the typical daily volume of 2,706 put options.

Hedge Funds Weigh In On Cameco

Institutional investors and hedge funds have recently modified their holdings of the stock. Dantai Capital Ltd increased its holdings in shares of Cameco by 44.2% in the third quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock valued at $2,735,000 after purchasing an additional 17,560 shares during the last quarter. Roberts Wealth Advisors LLC acquired a new position in shares of Cameco in the fourth quarter valued at $895,000. Whalen Wealth Management Inc. acquired a new position in shares of Cameco in the fourth quarter valued at $445,000. iA Global Asset Management Inc. acquired a new position in shares of Cameco in the third quarter valued at $5,305,000. Finally, Telemark Asset Management LLC increased its holdings in shares of Cameco by 8.3% in the third quarter. Telemark Asset Management LLC now owns 1,300,000 shares of the basic materials company’s stock valued at $62,088,000 after purchasing an additional 100,000 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Cameco from a “sell” rating to a “hold” rating in a report on Friday. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $66.56.

Cameco Price Performance

Shares of CCJ opened at $43.56 on Friday. The company has a market cap of $18.96 billion, a price-to-earnings ratio of 229.25 and a beta of 0.94. Cameco has a 1-year low of $35.43 and a 1-year high of $62.55. The company’s fifty day simple moving average is $51.00 and its 200 day simple moving average is $49.62. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Cameco had a net margin of 4.15% and a return on equity of 3.33%. The firm had revenue of $845.54 million for the quarter, compared to the consensus estimate of $1.09 billion. On average, research analysts forecast that Cameco will post 0.42 earnings per share for the current fiscal year.

About Cameco

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.