This story originally appeared on Zacks

In the latest trading session, Cameco (CCJ) closed at $21.81, marking a +0.05% move from the previous day. The stock outpaced the S&P 500’s daily loss of 0.26%. At the same time, the Dow lost 0.16%, and the tech-heavy Nasdaq lost 0.04%.

Coming into today, shares of the uranium producer had lost 5.71% in the past month. In that same time, the Basic Materials sector gained 6.01%, while the S&P 500 gained 4.82%.

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 -$0.02 per share. This would mark a year-over-year decline of 122.22%.

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.

Investors might also notice recent changes to analyst estimates for Cameco. These revisions help to show the ever-changing nature of near-term business trends. 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. 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 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. Within the past 30 days, our consensus EPS projection remained stagnant. Cameco is currently a Zacks Rank #3 (Hold).

The Mining – Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 185, putting it in the bottom 28% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

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Cameco Corporation (CCJ): Free Stock Analysis Report
 
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