Yahoo Finance Cameco (CCJ) Beats Stock Market Upswing: What Investors Need to Know
Cameco (CCJ) ended the recent trading session at $52.92, demonstrating a +0.92% swing from the preceding day's closing price. This change outpaced the S&P 500's 0.23% gain on the day. Meanwhile, the Dow lost 0.17%, and the Nasdaq, a tech-heavy index, added 0.34%.
Prior to today's trading, shares of the uranium producer had gained 4.94% over the past month. This has outpaced the Basic Materials sector's loss of 2.98% and the S&P 500's gain of 3.96% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Cameco in its upcoming earnings disclosure. On that day, Cameco is projected to report earnings of $0.23 per share, which would represent year-over-year growth of 2400%.
It is also important to note the recent changes to analyst estimates for Cameco. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 0.73% higher within the past month. As of now, Cameco holds a Zacks Rank of #4 (Sell).
With respect to valuation, Cameco is currently being traded at a Forward P/E ratio of 38. Its industry sports an average Forward P/E of 16.09, so one might conclude that Cameco is trading at a premium comparatively.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 199, finds itself in the bottom 22% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Cameco Corporation (CCJ) : Free Stock Analysis Report
