Stock traders buy high volume of put options on Cameco (NYSE:CCJ)

Cameco Co. (NYSE:CCJ – Get Rating) (TSE:CCO) was the target of unusually large options trades on Wednesday. Traders bought 28,210 put options on the company. This represents an increase of approximately 942% from the typical volume of 2,706 put options.

NYSE:CCJ shares opened at $20.53 on Thursday. The company has a fifty-day moving average of $21.49 and a 200-day moving average of $22.24. The company has a market capitalization of $8.18 billion, a PE ratio of -102.64 and a beta of 0.88. The company has a debt ratio of 0.21, a quick ratio of 4.19 and a current ratio of 5.18. Cameco has a 52 week low of $14.50 and a 52 week high of $28.49.

Cameco (NYSE:CCJ – Get Rating) (TSE:CCO) last reported quarterly results on Wednesday, February 9. The basic materials company reported earnings per share (EPS) of $0.05 for the quarter, beating the consensus estimate of $0.04 by $0.01. Cameco had a negative net margin of 7.01% and a negative return on equity of 2.00%. In the same quarter of the previous year, the company had earned earnings per share of $0.09. On average, stock analysts expect Cameco to post EPS of 0.08 for the current year.

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The company also recently announced an annual dividend, which will be paid on Thursday, December 15. Investors of record on Wednesday, November 30 will receive a dividend of $0.094. This is a boost from Cameco’s previous annual dividend of $0.06. The ex-dividend date is Tuesday, November 29. This represents a dividend yield of 0.41%. Cameco’s payout ratio is currently -30.00%.

A number of research companies have recently commented on CCJ. Royal Bank of Canada raised its price target on Cameco from CA$29.00 to CA$30.00 in a report on Thursday, February 10. Canaccord Genuity Group raised its price target on Cameco from C$34.00 to C$37.00 and gave the stock a “buy” rating in a report on Thursday, February 10. StockNews.com upgraded Cameco from a “hold” rating to a “sell” rating in a Wednesday, February 9 report. BMO Capital Markets raised its price target on Cameco from CA$32.00 to CA$33.00 in a Friday, February 11 report. Finally, Bank of America upgraded Cameco from a “neutral” rating to a “buy” rating and set a $32.00 price target for the company in a Wednesday, Nov. 3, report. One research analyst has assigned the stock a sell rating, three have assigned a hold rating and nine have assigned the stock a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $33.50.

A number of institutional investors and hedge funds have recently changed their holdings in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings of Cameco shares by 26.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,424,235 shares of the basic materials company worth $271,275,000 after acquiring 2,567,907 additional shares in the last quarter. Morgan Stanley increased its holdings of Cameco shares by 46.9% in the second quarter. Morgan Stanley now owns 6,462,087 shares of the basic materials company worth $123,942,000 after acquiring 2,062,144 more shares in the last quarter. Capital World Investors acquired a new equity stake in Cameco in Q4 worth approximately $44,008,000. The Toronto Dominion Bank increased its holdings of Cameco shares by 98.5% in the 4th quarter. The Toronto Dominion Bank now owns 3,601,183 shares of the basic materials company worth $78,514,000 after acquiring 1,786,663 additional shares in the last quarter. Finally, Two Sigma Advisers LP acquired a new equity stake in Cameco in Q3 worth approximately $34,292,000. 58.26% of the shares are currently held by institutional investors and hedge funds.

Cameco Company Profile (Get a rating)

Cameco Corp. engages in the supply of uranium. The Company operates through the following segments: Uranium and Fuel Services. The Uranium segment includes the exploration, mining, milling, purchase and sale of uranium concentrate. The Fuel Services segment includes the refining, conversion and fabrication of uranium concentrate as well as the purchase and sale of conversion services.

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