In the latest close session, Cameco (CCJ) was down 1.6% at $73.27. The stock's change was less than the S&P 500's daily gain of 0.52%. On the other hand, the Dow registered a gain of 1%, and the technology-centric Nasdaq increased by 0.52%.
Heading into today, shares of the uranium producer had gained 25.88% over the past month, outpacing the Basic Materials sector's gain of 4.06% and the S&P 500's gain of 5.95%.
The investment community will be closely monitoring the performance of Cameco in its forthcoming earnings report. The company is forecasted to report an EPS of $0.36, showcasing a 260% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $681.82 million, indicating a 56% upward movement from the same quarter last year.
CCJ's full-year Zacks Consensus Estimates are calling for earnings of $1.09 per share and revenue of $2.51 billion. These results would represent year-over-year changes of +122.45% and +10.16%, respectively.
It is also important to note the recent changes to analyst estimates for Cameco. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 15.85% increase. Cameco is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Cameco currently has a Forward P/E ratio of 68.58. This signifies a premium in comparison to the average Forward P/E of 18.51 for its industry.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 152, finds itself in the bottom 39% echelons of all 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.
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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Cameco Corporation (CCJ): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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