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Cameco (CCJ) Rises But Trails Market: What Investors Should Know September 09, 2024
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The latest trading session saw Cameco (CCJ - Free Report) ending at $37.04, denoting a +0.22% adjustment from its last day's close. The stock lagged the S&P 500's daily gain of 1.16%. Meanwhile, the Dow gained 1.2%, and the Nasdaq, a tech-heavy index, added 1.16%.
Prior to today's trading, shares of the uranium producer had lost 6.55% over the past month. This has lagged the Basic Materials sector's loss of 0.87% and the S&P 500's gain of 3.48% in that time.
The investment community will be closely monitoring the performance of Cameco in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.24, marking stability compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.96 per share and a revenue of $2.23 billion, indicating changes of +68.42% and +16.39%, respectively, from the former year.
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, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 9.86% decrease. At present, Cameco boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Cameco has a Forward P/E ratio of 38.5 right now. This denotes a premium relative to the industry's average Forward P/E of 13.14.
The Mining - Miscellaneous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 183, placing it within the bottom 28% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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The latest trading session saw Cameco (CCJ - Free Report) ending at $37.04, denoting a +0.22% adjustment from its last day's close. The stock lagged the S&P 500's daily gain of 1.16%. Meanwhile, the Dow gained 1.2%, and the Nasdaq, a tech-heavy index, added 1.16%.
Prior to today's trading, shares of the uranium producer had lost 6.55% over the past month. This has lagged the Basic Materials sector's loss of 0.87% and the S&P 500's gain of 3.48% in that time.
The investment community will be closely monitoring the performance of Cameco in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.24, marking stability compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.96 per share and a revenue of $2.23 billion, indicating changes of +68.42% and +16.39%, respectively, from the former year.
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, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 9.86% decrease. At present, Cameco boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Cameco has a Forward P/E ratio of 38.5 right now. This denotes a premium relative to the industry's average Forward P/E of 13.14.
The Mining - Miscellaneous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 183, placing it within the bottom 28% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.