Investors Buy High Volume of Cameco Put Options (NYSE:CCJ)

Posted by on Oct 5th, 2023

Cameco Co. (NYSE:CCJ – Get Free Report) (TSE:CCO) was the target of some unusual options trading on Wednesday. Stock investors purchased 28,210 put options on the stock. This represents an increase of 942% compared to the typical volume of 2,706 put options.

Cameco Price Performance

Shares of NYSE CCJ opened at $36.16 on Thursday. The firm has a market capitalization of $15.69 billion, a P/E ratio of 241.07, a P/E/G ratio of 1.03 and a beta of 0.96. The company has a quick ratio of 3.00, a current ratio of 3.64 and a debt-to-equity ratio of 0.08. The stock’s 50-day simple moving average is $36.73 and its two-hundred day simple moving average is $31.38. Cameco has a twelve month low of $21.02 and a twelve month high of $42.17.

Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last issued its earnings results on Wednesday, August 2nd. The basic materials company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.17). Cameco had a net margin of 4.67% and a return on equity of 2.74%. The company had revenue of $482.00 million for the quarter, compared to analysts’ expectations of $636.37 million. During the same quarter in the prior year, the company earned $0.14 earnings per share. The company’s revenue was down 13.6% compared to the same quarter last year. As a group, equities analysts anticipate that Cameco will post 0.63 EPS for the current fiscal year.

Institutional Trading of Cameco

Several institutional investors have recently added to or reduced their stakes in the business. Clearview Wealth Advisors LLC bought a new stake in Cameco during the first quarter valued at about $25,000. CGC Financial Services LLC purchased a new position in shares of Cameco during the second quarter valued at approximately $27,000. Global Retirement Partners LLC boosted its position in shares of Cameco by 291.3% during the first quarter. Global Retirement Partners LLC now owns 1,209 shares of the basic materials company’s stock valued at $32,000 after buying an additional 900 shares during the period. Tyler Stone Wealth Management purchased a new stake in shares of Cameco in the second quarter valued at approximately $32,000. Finally, Ahrens Investment Partners LLC purchased a new stake in shares of Cameco in the first quarter valued at approximately $37,000. 66.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CCJ shares. StockNews.com started coverage on shares of Cameco in a report on Thursday, August 17th. They set a “sell” rating for the company. TD Securities increased their price objective on Cameco from C$55.00 to C$70.00 and gave the company an “action list buy” rating in a report on Tuesday. Scotiabank increased their price objective on Cameco from C$54.00 to C$70.00 in a report on Friday, September 29th. Canaccord Genuity Group increased their price objective on Cameco from $49.50 to $56.00 and gave the company a “buy” rating in a report on Tuesday, September 5th. Finally, Cantor Fitzgerald downgraded Cameco from a “buy” rating to a “hold” rating in a report on Tuesday, September 5th.

Check Out Our Latest Stock Report on Cameco

Cameco Company Profile

(Get Free Report)

Cameco Corporation provides uranium for the generation of electricity. It operates through two segments, Uranium and Fuel Services. 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.

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