In the latest trading session, Uranium Energy (UEC) closed at $9.76, marking a +2.74% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.73%. Meanwhile, the Dow experienced a rise of 0.18%, and the technology-dominated Nasdaq saw an increase of 1.21%.
The stock of uranium mining and exploration company has risen by 50.32% in the past month, leading the Basic Materials sector's loss of 1.45% and the S&P 500's gain of 0.47%.
The upcoming earnings release of Uranium Energy will be of great interest to investors. The company's upcoming EPS is projected at -$0.03, signifying steadiness compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.17 per share and a revenue of $79.65 million, indicating changes of -88.89% and 0%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Uranium Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 44.44% downward. Right now, Uranium Energy possesses a Zacks Rank of #5 (Strong Sell).
The Mining - Miscellaneous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 154, this industry ranks in the bottom 38% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Uranium Energy Corp. (UEC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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