Uranium Energy (UEC) ended the recent trading session at $16.00, demonstrating a -4.42% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.63% for the day. On the other hand, the Dow registered a loss of 0.65%, and the technology-centric Nasdaq decreased by 0.47%.
Shares of the uranium mining and exploration company witnessed a gain of 36.76% over the previous month, beating the performance of the Basic Materials sector with its gain of 0.36%, and the S&P 500's gain of 0.92%.
The investment community will be closely monitoring the performance of Uranium Energy in its forthcoming earnings report. It is anticipated that the company will report an EPS of -$0.03, marking stability compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.17 per share and a revenue of $78.87 million, demonstrating changes of -88.89% and +18%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Uranium Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the past month, there's been a 176.92% fall in the Zacks Consensus EPS estimate. Uranium Energy is currently sporting a Zacks Rank of #5 (Strong Sell).
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 58, putting it in the top 24% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming 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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