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

·2 min read

Cameco (CCJ) closed at $28.40 in the latest trading session, marking a +0.35% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.13%. Meanwhile, the Dow lost 1.01%, and the Nasdaq, a tech-heavy index, lost 0.14%.

Coming into today, shares of the uranium producer had gained 25% in the past month. In that same time, the Basic Materials sector lost 3.12%, while the S&P 500 lost 7.59%.

Cameco will be looking to display strength as it nears its next earnings release. In that report, analysts expect Cameco to post earnings of -$0.02 per share. This would mark year-over-year growth of 81.82%.

For the full year, our Zacks Consensus Estimates are projecting earnings of $0.22 per share and revenue of $1.47 billion, which would represent changes of +210% and +24.57%, respectively, from the prior year.

Any recent changes to analyst estimates for Cameco should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 7.32% higher within the past month. Cameco currently has a Zacks Rank of #3 (Hold).

Looking at its valuation, Cameco is holding a Forward P/E ratio of 128.64. For comparison, its industry has an average Forward P/E of 8.13, which means Cameco is trading at a premium to the group.

The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 140, putting it in the bottom 45% 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.

To follow CCJ in the coming trading sessions, be sure to utilize Zacks.com.

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