Uranium Energy (UEC) closed at $13.55 in the latest trading session, marking a -3.21% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.28%. Meanwhile, the Dow experienced a drop of 0.52%, and the technology-dominated Nasdaq saw a decrease of 0.08%.
Prior to today's trading, shares of the uranium mining and exploration company had gained 11.11% outpaced the Basic Materials sector's gain of 0.4% and the S&P 500's gain of 4.03%.
Investors will be eagerly watching for the performance of Uranium Energy in its upcoming earnings disclosure. In that report, analysts expect Uranium Energy to post earnings of -$0.03 per share. This would mark no growth from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.17 per share and a revenue of $78.87 million, indicating changes of -88.89% and +18%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Uranium Energy. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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, the Zacks Consensus EPS estimate has shifted 176.92% downward. Uranium Energy is currently sporting a Zacks Rank of #5 (Strong Sell).
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 94, finds itself in the top 39% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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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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