In the latest trading session, Uranium Energy (UEC) closed at $15.58, marking a +2.3% move from the previous day. At the same time, the Dow lost 0.16%, and the tech-heavy Nasdaq gained 0.55%.
Coming into today, shares of the uranium mining and exploration company had gained 14.17% in the past month. In that same time, the Basic Materials sector lost 4.28%, while the S&P 500 gained 3.83%.
The investment community will be closely monitoring the performance of Uranium Energy in its forthcoming earnings report. In that report, analysts expect Uranium Energy to post earnings of -$0.03 per share. This would mark no growth from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.17 per share and a revenue of $78.87 million, signifying shifts of -88.89% and +18%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Uranium Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 71.43% fall in the Zacks Consensus EPS estimate. Uranium Energy is holding a Zacks Rank of #5 (Strong Sell) right now.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 59, putting it in the top 24% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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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