In the latest trading session, Uranium Energy (UEC) closed at $17.87, marking a +2.29% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.06%. Meanwhile, the Dow experienced a drop of 0.17%, and the technology-dominated Nasdaq saw a decrease of 0.06%.
The stock of uranium mining and exploration company has risen by 46.44% in the past month, leading the Basic Materials sector's gain of 8.18% and the S&P 500's gain of 1.99%.
Market participants will be closely following the financial results of Uranium Energy in its upcoming release. On that day, Uranium Energy is projected to report earnings of -$0.06 per share, which would represent a year-over-year decline of 500%.
UEC's full-year Zacks Consensus Estimates are calling for earnings of -$0.1 per share and revenue of $59.65 million. These results would represent year-over-year changes of +41.18% and -10.75%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Uranium Energy. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, Uranium Energy holds a Zacks Rank of #3 (Hold).
The Mining - Miscellaneous industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 66, positioning it in the top 27% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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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