Cameco (CCJ) Gains But Lags Market: What You Should Know

Cameco (CCJ) closed the most recent trading day at $22.22, moving +0.14% from the previous trading session. This change lagged the S&P 500's 0.62% gain on the day. Meanwhile, the Dow gained 0.55%, and the Nasdaq, a tech-heavy index, lost 0.03%.

Heading into today, shares of the uranium producer had lost 12.08% over the past month, lagging the Basic Materials sector's loss of 0.06% and the S&P 500's gain of 0.39% in that time.

Cameco will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.02, down 122.22% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.26 per share and revenue of $1.21 billion, which would represent changes of -100% and -9.93%, respectively, from the prior year.

Any recent changes to analyst estimates for Cameco should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Cameco currently has a Zacks Rank of #3 (Hold).

The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 199, which puts it in the bottom 22% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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