Uranium Energy (UEC) closed at $10.40 in the latest trading session, marking a -1.23% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.43%. Meanwhile, the Dow experienced a drop of 0.77%, and the technology-dominated Nasdaq saw a decrease of 0.22%.
The stock of uranium mining and exploration company has risen by 18.18% in the past month, leading the Basic Materials sector's gain of 2.17% and the S&P 500's gain of 2.65%.
Market participants will be closely following the financial results of Uranium Energy in its upcoming release. The company is forecasted to report an EPS of -$0.03, showcasing no movement from the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.17 per share and a revenue of $79.65 million, signifying shifts of -88.89% and 0%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Uranium Energy. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Uranium Energy currently has a Zacks Rank of #4 (Sell).
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 155, putting it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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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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