On April 3, 2023 at 10:35:20 ET an unusually large $466.26K block of Put contracts in Cameco (CCJ) was bought, with a strike price of $25.00 / share, expiring in 165 days (on September 15, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.45 sigmas above the mean, placing it in the 88.48 percentile of all recent large trades made in CCJ options.
This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 34.26% Upside
As of March 30, 2023, the average one-year price target for Cameco is $35.14. The forecasts range from a low of $26.44 to a high of $38.71. The average price target represents an increase of 34.26% from its latest reported closing price of $26.17.
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The projected annual revenue for Cameco is $2,131MM. The projected annual non-GAAP EPS is $0.81.
What is the Fund Sentiment?
There are 707 funds or institutions reporting positions in Cameco. This is a decrease of 18 owner(s) or 2.48% in the last quarter. Average portfolio weight of all funds dedicated to CCJ is 0.50%, a decrease of 8.27%. Total shares owned by institutions increased in the last three months by 12.36% to 311,642K shares. The put/call ratio of CCJ is 0.58, indicating a bullish outlook.
What are Large Shareholders Doing?
URA – Global X Uranium ETF holds 14,410K shares representing 3.33% ownership of the company. In it’s prior filing, the firm reported owning 14,699K shares, representing a decrease of 2.00%. The firm increased its portfolio allocation in CCJ by 3.94% over the last quarter.
Capital World Investors holds 14,281K shares representing 3.30% ownership of the company. In it’s prior filing, the firm reported owning 11,545K shares, representing an increase of 19.16%. The firm increased its portfolio allocation in CCJ by 0.31% over the last quarter.
Mirae Asset Global Investments Co. holds 14,119K shares representing 3.26% ownership of the company. In it’s prior filing, the firm reported owning 14,571K shares, representing a decrease of 3.20%. The firm decreased its portfolio allocation in CCJ by 56.52% over the last quarter.
William Blair Investment Management holds 11,206K shares representing 2.59% ownership of the company. In it’s prior filing, the firm reported owning 10,208K shares, representing an increase of 8.90%. The firm decreased its portfolio allocation in CCJ by 9.15% over the last quarter.
Price T Rowe Associates holds 9,512K shares representing 2.20% ownership of the company. In it’s prior filing, the firm reported owning 11,827K shares, representing a decrease of 24.33%. The firm decreased its portfolio allocation in CCJ by 32.46% over the last quarter.
Cameco Background Information
(This description is provided by the company.)
Cameco is one of the largest global providers of the fuel needed to energize a clean-air world. The Company’s tier-one operations have the licensed capacity to produce more than 53 million pounds (100% basis) of uranium concentrates annually, backed by 455 million pounds of proven and probable mineral reserves (its share). The Company is also a leading supplier of uranium refining, conversion and fuel manufacturing services. Utilities around the world rely on company’s nuclear fuel products to generate power in safe, reliable, carbon-free nuclear reactors. The Company is meeting the ever-increasing demand for clean baseload electricity while delivering safe, reliable solutions to today’s clean-air crisis.
This article originally appeared on Fintel
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