Cameco (CCJ) Stock Moves -0.17%: What You Should Know

The most recent trading session ended with Cameco (CCJ) standing at $57.92, reflecting a -0.17% shift from the previouse trading day's closing. This change was narrower than the S&P 500's 0.18% loss on the day. At the same time, the Dow lost 0.8%, and the tech-heavy Nasdaq gained 0.27%.

The the stock of uranium producer has risen by 30.68% in the past month, leading the Basic Materials sector's gain of 8.45% and the S&P 500's gain of 4.46%.

The upcoming earnings release of Cameco will be of great interest to investors. The company's earnings report is expected on November 7, 2024. On that day, Cameco is projected to report earnings of $0.28 per share, which would represent year-over-year growth of 16.67%. Our most recent consensus estimate is calling for quarterly revenue of $532.06 million, up 24.12% from the year-ago period.

For the full year, the Zacks Consensus Estimates project earnings of $0.83 per share and a revenue of $2.2 billion, demonstrating changes of +45.61% and +15.1%, respectively, from the preceding year.

Investors might also notice recent changes to analyst estimates for Cameco. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 8.29% lower. Cameco currently has a Zacks Rank of #3 (Hold).

In terms of valuation, Cameco is presently being traded at a Forward P/E ratio of 69.9. This represents a premium compared to its industry's average Forward P/E of 17.3.

The Mining - Miscellaneous industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 190, positioning it in the bottom 25% 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.

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