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Cameco (CCJ) Dips More Than Broader Markets: What You Should Know

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In the latest trading session, Cameco (CCJ) closed at $21.35, marking a -1.93% move from the previous day. This move lagged the S&P 500's daily loss of 0.92%. Elsewhere, the Dow lost 0.62%, while the tech-heavy Nasdaq added 0.05%.

Coming into today, shares of the uranium producer had lost 6.12% in the past month. In that same time, the Basic Materials sector lost 22.01%, while the S&P 500 lost 1%.

Cameco will be looking to display strength as it nears its next earnings release. In that report, analysts expect Cameco to post earnings of -$0.01 per share. This would mark year-over-year growth of 87.5%.

CCJ's full-year Zacks Consensus Estimates are calling for earnings of $0.13 per share and revenue of $1.45 billion. These results would represent year-over-year changes of +165% and +23.07%, respectively.

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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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, the Zacks Consensus EPS estimate has moved 18.18% higher. Cameco is currently a Zacks Rank #1 (Strong Buy).

In terms of valuation, Cameco is currently trading at a Forward P/E ratio of 167.46. For comparison, its industry has an average Forward P/E of 7.45, which means Cameco is trading at a premium to the group.

The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 29% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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