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Centrus Energy (LEU) Soars 12.4%: Is Further Upside Left in the Stock?
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Centrus Energy Corp. (LEU - Free Report) shares rallied 12.4% in the last trading session to close at $191.39. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.6% gain over the past four weeks.
Centrus Energy shares gained on the news that it has signed a Letter of Intent to supply high-assay low-enriched uranium (HALEU) to Oklo Inc. (OKLO - Free Report) . Under the multi-year agreement, deliveries are slated to begin in 2029 to fuel up to five Aurora powerhouses. Centrus will source the HALEU from its American Centrifuge Plant in Pike County, OH, supporting Oklo’s planned 1.2 GW power campus in the area.
This company is expected to post quarterly earnings of $0.90 per share in its upcoming report, which represents a year-over-year change of -43.4%. Revenues are expected to be $143.92 million, down 6.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Centrus Energy, the consensus EPS estimate for the quarter has been revised 2% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on LEU going forward to see if this recent jump can turn into more strength down the road.
Centrus Energy belongs to the Zacks Mining - Non Ferrous industry. Another stock from the same industry, Southern Copper (SCCO - Free Report) , closed the last trading session 0.7% higher at $192.93. Over the past month, SCCO has returned 10.1%.
Southern Copper's consensus EPS estimate for the upcoming report has changed -0.3% over the past month to $1.85. Compared to the company's year-ago EPS, this represents a change of +51.6%. Southern Copper currently boasts a Zacks Rank of #3 (Hold).
View the Zacks #1 Rank List
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Centrus Energy (LEU) Soars 12.4%: Is Further Upside Left in the Stock?
Centrus Energy Corp. (LEU - Free Report) shares rallied 12.4% in the last trading session to close at $191.39. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.6% gain over the past four weeks.
Centrus Energy shares gained on the news that it has signed a Letter of Intent to supply high-assay low-enriched uranium (HALEU) to Oklo Inc. (OKLO - Free Report) . Under the multi-year agreement, deliveries are slated to begin in 2029 to fuel up to five Aurora powerhouses. Centrus will source the HALEU from its American Centrifuge Plant in Pike County, OH, supporting Oklo’s planned 1.2 GW power campus in the area.
This company is expected to post quarterly earnings of $0.90 per share in its upcoming report, which represents a year-over-year change of -43.4%. Revenues are expected to be $143.92 million, down 6.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Centrus Energy, the consensus EPS estimate for the quarter has been revised 2% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on LEU going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Centrus Energy belongs to the Zacks Mining - Non Ferrous industry. Another stock from the same industry, Southern Copper (SCCO - Free Report) , closed the last trading session 0.7% higher at $192.93. Over the past month, SCCO has returned 10.1%.
Southern Copper's consensus EPS estimate for the upcoming report has changed -0.3% over the past month to $1.85. Compared to the company's year-ago EPS, this represents a change of +51.6%. Southern Copper currently boasts a Zacks Rank of #3 (Hold).