Cameco (CCJ) Falls More Steeply Than Broader Market: What Investors Need to Know

In the latest trading session, Cameco (CCJ) closed at $78.11, marking a -2.23% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.05%. Elsewhere, the Dow saw a downswing of 0.59%, while the tech-heavy Nasdaq appreciated by 0.45%. Coming into today, shares of the uranium producer had gained 5.74% in the past month. In that same time, the Basic Materials sector gained 7.06%, while the S&P 500 gained 3.44%. Analysts and investors alike will be keeping a close eye on the performance of Cameco in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.22, marking a 2300% rise compared to the same quarter of the previous year. For the full year, the Zacks Consensus Estimates are projecting earnings of $1.13 per share and revenue of $2.54 billion, which would represent changes of +130.61% and +11.32%, respectively, from the prior year. Any recent changes to analyst estimates for Cameco should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook. Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system. The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 8.14% downward. Cameco presently features a Zacks Rank of #3 (Hold). From a valuation perspective, Cameco is currently exchanging hands at a Forward P/E ratio of 70.8. This represents a premium compared to its industry average Forward P/E of 19.59. The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 40% of all 250+ industries. The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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. 5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Cameco Corporation (CCJ): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks