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Cameco (CCJ) Stock Sinks As Market Gains: What You Should Know
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Cameco (CCJ - Free Report) closed the most recent trading day at $52.22, moving -1.23% from the previous trading session. This change lagged the S&P 500's 0.28% gain on the day. Meanwhile, the Dow gained 0.53%, and the Nasdaq, a tech-heavy index, added 0.4%.
Heading into today, shares of the uranium producer had gained 1.87% over the past month, outpacing the Basic Materials sector's loss of 0.18% and lagging the S&P 500's gain of 3.78% in that time.
Market participants will be closely following the financial results of Cameco in its upcoming release. The company is predicted to post an EPS of $0.32, indicating a 3300% growth compared to the equivalent quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Cameco. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 5.07% downward. Cameco is holding a Zacks Rank of #4 (Sell) right now.
From a valuation perspective, Cameco is currently exchanging hands at a Forward P/E ratio of 40.36. This expresses a premium compared to the average Forward P/E of 15.56 of its industry.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 184, finds itself in the bottom 27% 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.
To follow CCJ in the coming trading sessions, be sure to utilize Zacks.com.
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Cameco (CCJ) Stock Sinks As Market Gains: What You Should Know
Cameco (CCJ - Free Report) closed the most recent trading day at $52.22, moving -1.23% from the previous trading session. This change lagged the S&P 500's 0.28% gain on the day. Meanwhile, the Dow gained 0.53%, and the Nasdaq, a tech-heavy index, added 0.4%.
Heading into today, shares of the uranium producer had gained 1.87% over the past month, outpacing the Basic Materials sector's loss of 0.18% and lagging the S&P 500's gain of 3.78% in that time.
Market participants will be closely following the financial results of Cameco in its upcoming release. The company is predicted to post an EPS of $0.32, indicating a 3300% growth compared to the equivalent quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Cameco. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 5.07% downward. Cameco is holding a Zacks Rank of #4 (Sell) right now.
From a valuation perspective, Cameco is currently exchanging hands at a Forward P/E ratio of 40.36. This expresses a premium compared to the average Forward P/E of 15.56 of its industry.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 184, finds itself in the bottom 27% 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.
To follow CCJ in the coming trading sessions, be sure to utilize Zacks.com.