Uranium Energy (UEC) closed at $12.34 in the latest trading session, marking a -6.3% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.13%. Elsewhere, the Dow lost 0.27%, while the tech-heavy Nasdaq lost 0.07%.
Heading into today, shares of the uranium mining and exploration company had gained 24.25% over the past month, outpacing the Basic Materials sector's gain of 6.19% and the S&P 500's gain of 2.71%.
The investment community will be paying close attention to the earnings performance of Uranium Energy in its upcoming release. The company is expected to report EPS of -$0.03, unchanged from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.17 per share and revenue of $79.65 million, indicating changes of -88.89% and 0%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Uranium Energy. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Uranium Energy currently has a Zacks Rank of #4 (Sell).
The Mining - Miscellaneous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 162, this industry ranks in the bottom 35% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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