In the latest close session, Uranium Energy (UEC) was down 3.19% at $11.22. The stock's change was less than the S&P 500's daily loss of 0.92%. On the other hand, the Dow registered a loss of 1.18%, and the technology-centric Nasdaq decreased by 0.84%.
The uranium mining and exploration company's shares have seen a decrease of 22.06% over the last month, not keeping up with the Basic Materials sector's loss of 3.6% and the S&P 500's gain of 1.48%.
Market participants will be closely following the financial results of Uranium Energy in its upcoming release. It is anticipated that the company will report an EPS of -$0.04, marking a 33.33% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $11.3 million, reflecting a 33.88% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.09 per share and revenue of $72.93 million, which would represent changes of +47.06% and +9.12%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Uranium Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Uranium Energy currently has a Zacks Rank of #4 (Sell).
The Mining - Miscellaneous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 85, placing it within the top 35% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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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Uranium Energy Corp. (UEC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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