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Cameco (CCJ) Dips More Than Broader Markets: What You Should Know

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Cameco (CCJ - Free Report) closed at $21.73 in the latest trading session, marking a -1.9% move from the prior day. This change lagged the S&P 500's 0.87% loss on the day. Meanwhile, the Dow lost 0.08%, and the Nasdaq, a tech-heavy index, lost 0.34%.

Coming into today, shares of the uranium producer had lost 15.39% in the past month. In that same time, the Basic Materials sector lost 3.76%, while the S&P 500 gained 0.7%.

Wall Street will be looking for positivity from Cameco as it approaches its next earnings report date. On that day, Cameco is projected to report earnings of -$0.02 per share, which would represent a year-over-year decline of 122.22%.

CCJ's full-year Zacks Consensus Estimates are calling for earnings of -$0.26 per share and revenue of $1.21 billion. These results would represent year-over-year changes of -100% and -9.93%, respectively.

It is also important to note the recent changes to analyst estimates for Cameco. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 remained stagnant within the past month. Cameco is holding a Zacks Rank of #3 (Hold) right now.

The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 167, which puts it in the bottom 35% of all 250+ industries.

The Zacks Industry Rank includes is listed in order 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.

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