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Cameco (CCJ) Stock Moves -1.84%: What You Should Know
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In the latest trading session, Cameco (CCJ - Free Report) closed at $46.49, marking a -1.84% move from the previous day. The stock's change was more than the S&P 500's daily loss of 2.32%. Elsewhere, the Dow saw a downswing of 1.25%, while the tech-heavy Nasdaq depreciated by 3.64%.
Shares of the uranium producer have depreciated by 5.36% over the course of the past month, underperforming the Basic Materials sector's loss of 1.83% and the S&P 500's gain of 1.79%.
The investment community will be closely monitoring the performance of Cameco in its forthcoming earnings report. The company is scheduled to release its earnings on July 31, 2024. In that report, analysts expect Cameco to post earnings of $0.28 per share. This would mark year-over-year growth of 2900%.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Cameco. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 18.84% decrease. Cameco presently features a Zacks Rank of #4 (Sell).
In the context of valuation, Cameco is at present trading with a Forward P/E ratio of 42.29. This expresses a premium compared to the average Forward P/E of 14.26 of its industry.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 172, finds itself in the bottom 32% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Cameco (CCJ) Stock Moves -1.84%: What You Should Know
In the latest trading session, Cameco (CCJ - Free Report) closed at $46.49, marking a -1.84% move from the previous day. The stock's change was more than the S&P 500's daily loss of 2.32%. Elsewhere, the Dow saw a downswing of 1.25%, while the tech-heavy Nasdaq depreciated by 3.64%.
Shares of the uranium producer have depreciated by 5.36% over the course of the past month, underperforming the Basic Materials sector's loss of 1.83% and the S&P 500's gain of 1.79%.
The investment community will be closely monitoring the performance of Cameco in its forthcoming earnings report. The company is scheduled to release its earnings on July 31, 2024. In that report, analysts expect Cameco to post earnings of $0.28 per share. This would mark year-over-year growth of 2900%.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Cameco. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 18.84% decrease. Cameco presently features a Zacks Rank of #4 (Sell).
In the context of valuation, Cameco is at present trading with a Forward P/E ratio of 42.29. This expresses a premium compared to the average Forward P/E of 14.26 of its industry.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 172, finds itself in the bottom 32% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.