U.S. markets closed
  • S&P 500

    4,280.15
    +72.88 (+1.73%)
     
  • Dow 30

    33,761.05
    +424.38 (+1.27%)
     
  • Nasdaq

    13,047.19
    +267.27 (+2.09%)
     
  • Russell 2000

    2,016.62
    +41.36 (+2.09%)
     
  • Crude Oil

    91.88
    -2.46 (-2.61%)
     
  • Gold

    1,818.90
    +11.70 (+0.65%)
     
  • Silver

    20.83
    +0.49 (+2.39%)
     
  • EUR/USD

    1.0257
    -0.0068 (-0.66%)
     
  • 10-Yr Bond

    2.8490
    -0.0390 (-1.35%)
     
  • GBP/USD

    1.2139
    -0.0064 (-0.52%)
     
  • USD/JPY

    133.4800
    +0.4810 (+0.36%)
     
  • BTC-USD

    24,507.06
    +724.33 (+3.05%)
     
  • CMC Crypto 200

    574.64
    +3.36 (+0.59%)
     
  • FTSE 100

    7,500.89
    +34.98 (+0.47%)
     
  • Nikkei 225

    28,546.98
    +727.65 (+2.62%)
     

Cameco (CCJ) Gains As Market Dips: What You Should Know

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

In the latest trading session, Cameco (CCJ) closed at $22.64, marking a +1.12% move from the previous day. This change outpaced the S&P 500's 0.84% loss on the day. At the same time, the Dow lost 0.69%, and the tech-heavy Nasdaq lost 0.05%.

Heading into today, shares of the uranium producer had gained 8.32% over the past month, outpacing the Basic Materials sector's loss of 19.71% and the S&P 500's gain of 2.02% in that time.

Wall Street will be looking for positivity from Cameco as it approaches its next earnings report date. In that report, analysts expect Cameco to post earnings of -$0.01 per share. This would mark year-over-year growth of 87.5%.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.13 per share and revenue of $1.45 billion. These totals would mark changes of +165% and +23.07%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for Cameco. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually 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).

Investors should also note Cameco's current valuation metrics, including its Forward P/E ratio of 172.23. This valuation marks a premium compared to its industry's average Forward P/E of 7.45.

The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 187, which puts it in the bottom 26% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.


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 Report
 
To read this article on Zacks.com click here.