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Cameco (CCJ) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Cameco (CCJ - Free Report) closed at $91.37 in the latest trading session, marking a -1.58% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.14%. Meanwhile, the Dow experienced a drop of 0.2%, and the technology-dominated Nasdaq saw a decrease of 0.24%.
Shares of the uranium producer witnessed a gain of 6.07% over the previous month, beating the performance of the Basic Materials sector with its gain of 4.09%, and the S&P 500's gain of 0.94%.
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 $0.28 per share, which would represent year-over-year growth of 7.69%.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.96 per share and a revenue of $2.37 billion, representing changes of +95.92% and +4.02%, respectively, from the prior year.
Any recent changes to analyst estimates for Cameco should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 past month, the Zacks Consensus EPS estimate has moved 0.48% lower. Cameco currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Cameco is currently being traded at a Forward P/E ratio of 96.51. This signifies a premium in comparison to the average Forward P/E of 24.24 for its industry.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 160, finds itself in the bottom 36% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Cameco (CCJ) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Cameco (CCJ - Free Report) closed at $91.37 in the latest trading session, marking a -1.58% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.14%. Meanwhile, the Dow experienced a drop of 0.2%, and the technology-dominated Nasdaq saw a decrease of 0.24%.
Shares of the uranium producer witnessed a gain of 6.07% over the previous month, beating the performance of the Basic Materials sector with its gain of 4.09%, and the S&P 500's gain of 0.94%.
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 $0.28 per share, which would represent year-over-year growth of 7.69%.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.96 per share and a revenue of $2.37 billion, representing changes of +95.92% and +4.02%, respectively, from the prior year.
Any recent changes to analyst estimates for Cameco should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 past month, the Zacks Consensus EPS estimate has moved 0.48% lower. Cameco currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Cameco is currently being traded at a Forward P/E ratio of 96.51. This signifies a premium in comparison to the average Forward P/E of 24.24 for its industry.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 160, finds itself in the bottom 36% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.