Cameco (CCJ) closed the most recent trading day at $60.03, moving +0.13% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.53%. Meanwhile, the Dow experienced a drop of 0.26%, and the technology-dominated Nasdaq saw a decrease of 0.83%.
Shares of the uranium producer have appreciated by 20.53% over the course of the past month, outperforming the Basic Materials sector's gain of 4.61% and the S&P 500's gain of 5.17%.
The upcoming earnings release of Cameco will be of great interest to investors. In that report, analysts expect Cameco to post earnings of $0.25 per share. This would mark year-over-year growth of 150%.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.94 per share and a revenue of $2.45 billion, indicating changes of +91.84% and +7.47%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Cameco. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.07% higher. At present, Cameco boasts a Zacks Rank of #3 (Hold).
With respect to valuation, Cameco is currently being traded at a Forward P/E ratio of 63.49. This represents a premium compared to its industry's average Forward P/E of 19.32.
The Mining - Miscellaneous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 141, placing it within the bottom 43% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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Cameco Corporation (CCJ): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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