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Cameco (CCJ) Dips More Than Broader Market: What You Should Know
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In the latest market close, Cameco (CCJ - Free Report) reached $52.22, with a -0.34% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.25%. Elsewhere, the Dow gained 0.77%, while the tech-heavy Nasdaq lost 0.79%.
Shares of the uranium producer have appreciated by 0.5% over the course of the past month, outperforming the Basic Materials sector's loss of 6.47% and lagging the S&P 500's gain of 3.59%.
The investment community will be closely monitoring the performance of Cameco in its forthcoming earnings report. The company's upcoming EPS is projected at $0.23, signifying a 2400% increase compared to the same quarter of the previous year.
Investors might also notice recent changes to analyst estimates for Cameco. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Cameco presently features a Zacks Rank of #5 (Strong Sell).
From a valuation perspective, Cameco is currently exchanging hands at a Forward P/E ratio of 37.97. This represents a premium compared to its industry's average Forward P/E of 16.25.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 205, putting it in the bottom 19% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Cameco (CCJ) Dips More Than Broader Market: What You Should Know
In the latest market close, Cameco (CCJ - Free Report) reached $52.22, with a -0.34% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.25%. Elsewhere, the Dow gained 0.77%, while the tech-heavy Nasdaq lost 0.79%.
Shares of the uranium producer have appreciated by 0.5% over the course of the past month, outperforming the Basic Materials sector's loss of 6.47% and lagging the S&P 500's gain of 3.59%.
The investment community will be closely monitoring the performance of Cameco in its forthcoming earnings report. The company's upcoming EPS is projected at $0.23, signifying a 2400% increase compared to the same quarter of the previous year.
Investors might also notice recent changes to analyst estimates for Cameco. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Cameco presently features a Zacks Rank of #5 (Strong Sell).
From a valuation perspective, Cameco is currently exchanging hands at a Forward P/E ratio of 37.97. This represents a premium compared to its industry's average Forward P/E of 16.25.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 205, putting it in the bottom 19% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.