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Cameco (CCJ) closed at $21.15 in the latest trading session, marking a -0.14% move from the prior day. This change lagged the S&P 500's daily gain of 0.95%. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq added 0.15%.
Heading into today, shares of the uranium producer had lost 12.04% over the past month, lagging the Basic Materials sector's loss of 11.11% and the S&P 500's loss of 3.49% in that time.
Cameco will be looking to display strength as it nears its next earnings release. On that day, Cameco is projected to report earnings of -$0.03 per share, which would represent year-over-year growth of 62.5%.
CCJ's full-year Zacks Consensus Estimates are calling for earnings of $0.11 per share and revenue of $1.45 billion. These results would represent year-over-year changes of +155% and +23.07%, respectively.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Cameco is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Cameco is holding a Forward P/E ratio of 192.54. Its industry sports an average Forward P/E of 7.13, so we one might conclude that Cameco is trading at a premium comparatively.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 158, putting it in the bottom 38% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.