Cameco (CCJ) ended the recent trading session at $85.31, demonstrating a +1.35% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.37%. Meanwhile, the Dow experienced a drop of 0.14%, and the technology-dominated Nasdaq saw an increase of 0.71%.
Prior to today's trading, shares of the uranium producer had gained 10.97% outpaced the Basic Materials sector's gain of 5.71% and the S&P 500's gain of 4.26%.
Analysts and investors alike will be keeping a close eye on the performance of Cameco in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.22, marking a 2300% rise compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.12 per share and a revenue of $2.54 billion, signifying shifts of +128.57% and +11.32%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Cameco. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.59% fall in the Zacks Consensus EPS estimate. Right now, Cameco possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Cameco currently has a Forward P/E ratio of 75.04. This represents a premium compared to its industry average Forward P/E of 19.81.
The Mining - Miscellaneous industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 144, positioning it in the bottom 42% of all 250+ industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Cameco Corporation (CCJ): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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