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Cameco (CCJ) Falls More Steeply Than Broader Market: What Investors Need to Know

Cameco (CCJ) ended the recent trading session at $48.17, demonstrating a -0.5% swing from the preceding day's closing price. This change lagged the S&P 500's 0.22% loss on the day. On the other hand, the Dow registered a gain of 0.06%, and the technology-centric Nasdaq decreased by 0.52%.

The uranium producer's shares have seen an increase of 15.32% over the last month, surpassing the Basic Materials sector's loss of 0.37% and the S&P 500's loss of 1.66%.

Investors will be eagerly watching for the performance of Cameco in its upcoming earnings disclosure. In that report, analysts expect Cameco to post earnings of $0.33 per share. This would mark year-over-year growth of 65%.

Investors should also note any recent changes to analyst estimates for Cameco. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Within the past 30 days, our consensus EPS projection has moved 10.69% lower. Cameco is currently a Zacks Rank #5 (Strong Sell).

Looking at its valuation, Cameco is holding a Forward P/E ratio of 31.33. This valuation marks a premium compared to its industry's average Forward P/E of 15.98.

The Mining - Miscellaneous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 151, this industry ranks in the bottom 41% of all industries, numbering over 250.

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.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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Cameco Corporation (CCJ) : Free Stock Analysis Report

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Zacks Investment Research