In the latest close session, Uranium Energy (UEC) was down 6.24% at $18.62. The stock trailed the S&P 500, which registered a daily gain of 0.03%. Elsewhere, the Dow saw a downswing of 0.58%, while the tech-heavy Nasdaq appreciated by 0.28%.
The stock of uranium mining and exploration company has risen by 60.29% in the past month, leading the Basic Materials sector's gain of 8.78% and the S&P 500's gain of 0.6%.
Analysts and investors alike will be keeping a close eye on the performance of Uranium Energy in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.06, reflecting a 500% decrease from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.1 per share and a revenue of $59.65 million, indicating changes of +41.18% and -10.75%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Uranium Energy. Such recent modifications usually signify the changing landscape 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 shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Uranium Energy is holding a Zacks Rank of #3 (Hold) right now.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 36, finds itself in the top 15% echelons of all 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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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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