Cameco (CCJ) Rises Higher Than Market: Key Facts

In the latest trading session, Cameco (CCJ) closed at $77.91, marking a +2.26% move from the previous day. This move outpaced the S&P 500's daily gain of 0.54%. Elsewhere, the Dow gained 0.52%, while the tech-heavy Nasdaq added 0.74%. The stock of uranium producer has risen by 9.36% in the past month, leading the Basic Materials sector's loss of 0.05% and the S&P 500's gain of 4.2%.Investors will be eagerly watching for the performance of Cameco in its upcoming earnings disclosure. In that report, analysts expect Cameco to post earnings of $0.36 per share. This would mark year-over-year growth of 260%. Meanwhile, the latest consensus estimate predicts the revenue to be $681.82 million, indicating a 56% increase compared to the same quarter of the previous year. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.09 per share and revenue of $2.51 billion. These totals would mark changes of +122.45% and +10.16%, respectively, from last year. Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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 business performance and profit potential. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system. The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 2.42% rise in the Zacks Consensus EPS estimate. Right now, Cameco possesses a Zacks Rank of #3 (Hold). In the context of valuation, Cameco is at present trading with a Forward P/E ratio of 70.08. This expresses a premium compared to the average Forward P/E of 21.65 of its industry. The Mining - Miscellaneous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 148, this industry ranks in the bottom 41% of all industries, numbering over 250. 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. Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions. Should You Invest in Cameco Corporation (CCJ)?Before you invest in Cameco Corporation (CCJ), want to know the best stocks to buy for the next 30 days? Check out Zacks Investment Research for our free report on the 7 best stocks to buy.Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)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