News

Cameco (CCJ) closed the latest trading day at $47.90, indicating a -1.74% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.15%. Meanwhile, the Dow lost 0.02%, and the Nasdaq, a tech-heavy index, added 0.32%.

The uranium producer's shares have seen an increase of 19.57% over the last month, surpassing the Basic Materials sector's gain of 3.94% and the S&P 500's gain of 1.65%.

Analysts and investors alike will be keeping a close eye on the performance of Cameco in its upcoming earnings disclosure. On that day, Cameco is projected to report earnings of $0.33 per share, which would represent year-over-year growth of 65%.

Investors should also take note of any recent adjustments to analyst estimates for Cameco. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 remained stagnant. Cameco is holding a Zacks Rank of #5 (Strong Sell) right now.

From a valuation perspective, Cameco is currently exchanging hands at a Forward P/E ratio of 23.16. This represents a premium compared to its industry's average Forward P/E of 16.5.

The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 37% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

Free – 5 Dividend Stocks to Fund Your Retirement

Zacks Investment Research has released a Special Report to help you prepare for retirement with 5 diverse stocks that pay whopping dividends. They cut across property management, upscale outlets, financial institutions, and a couple of strong energy producers.

5 Dividend Stocks to Include in Your Retirement Strategy is packed with unconventional wisdom and insights you won’t get from your neighborhood financial planner.

Download Now – Today It’s FREE >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.