Uranium Energy (UEC) closed the most recent trading day at $18.60, moving -7.65% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.13% for the day. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq lost 0.72%.
Prior to today's trading, shares of the uranium mining and exploration company had gained 72.43% outpaced the Basic Materials sector's gain of 12.37% and the S&P 500's gain of 0.78%.
Market participants will be closely following the financial results of Uranium Energy in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.06, reflecting a 500% decrease from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.1 per share and a revenue of $60.02 million, representing changes of +41.18% and -10.21%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Uranium Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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, the Zacks Consensus EPS estimate remained stagnant. At present, Uranium Energy boasts a Zacks Rank of #3 (Hold).
The Mining - Miscellaneous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 55, placing it within the top 23% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next 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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