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Cameco (CCJ) Exceeds Market Returns: Some Facts to Consider
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Cameco (CCJ - Free Report) closed at $48.99 in the latest trading session, marking a +0.53% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 0.07%. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, added 0.14%.
Shares of the uranium producer witnessed a loss of 9.09% over the previous month, trailing the performance of the Basic Materials sector with its loss of 2.86% and the S&P 500's gain of 4.34%.
Investors will be eagerly watching for the performance of Cameco in its upcoming earnings disclosure. The company is expected to report EPS of $0.34, up 3500% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Cameco. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.54% lower. Cameco currently has a Zacks Rank of #3 (Hold).
Investors should also note Cameco's current valuation metrics, including its Forward P/E ratio of 36.23. This valuation marks a premium compared to its industry's average Forward P/E of 15.39.
The Mining - Miscellaneous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 194, placing it within the bottom 24% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CCJ in the coming trading sessions, be sure to utilize Zacks.com.
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Cameco (CCJ) Exceeds Market Returns: Some Facts to Consider
Cameco (CCJ - Free Report) closed at $48.99 in the latest trading session, marking a +0.53% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 0.07%. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, added 0.14%.
Shares of the uranium producer witnessed a loss of 9.09% over the previous month, trailing the performance of the Basic Materials sector with its loss of 2.86% and the S&P 500's gain of 4.34%.
Investors will be eagerly watching for the performance of Cameco in its upcoming earnings disclosure. The company is expected to report EPS of $0.34, up 3500% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Cameco. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.54% lower. Cameco currently has a Zacks Rank of #3 (Hold).
Investors should also note Cameco's current valuation metrics, including its Forward P/E ratio of 36.23. This valuation marks a premium compared to its industry's average Forward P/E of 15.39.
The Mining - Miscellaneous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 194, placing it within the bottom 24% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CCJ in the coming trading sessions, be sure to utilize Zacks.com.