Uranium Energy (UEC) closed at $16.34 in the latest trading session, marking a -4.44% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.33%. At the same time, the Dow added 0.1%, and the tech-heavy Nasdaq lost 0.59%.
Prior to today's trading, shares of the uranium mining and exploration company had gained 7.21% lagged the Basic Materials sector's gain of 11.52% and outpaced the S&P 500's loss of 0%.
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.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.1 per share and revenue of $60.02 million, which would represent changes of +41.18% and -10.21%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Uranium Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Uranium Energy is currently a Zacks Rank #3 (Hold).
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 46, which puts it in the top 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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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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