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Cameco (CCJ) Stock Moves -0.67%: What You Should Know

Cameco (CCJ) closed the most recent trading day at $25.12, moving -0.67% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.03%. Meanwhile, the Dow lost 1.11%, and the Nasdaq, a tech-heavy index, added 0.02%.

Coming into today, shares of the uranium producer had lost 5.14% in the past month. In that same time, the Basic Materials sector lost 12.31%, while the S&P 500 lost 10.4%.

Cameco will be looking to display strength as it nears its next earnings release. On that day, Cameco is projected to report earnings of -$0.02 per share, which would represent year-over-year growth of 81.82%.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.21 per share and revenue of $1.47 billion. These totals would mark changes of +205% and +24.57%, respectively, from last 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Cameco is holding a Zacks Rank of #3 (Hold) right now.

Looking at its valuation, Cameco is holding a Forward P/E ratio of 123.37. For comparison, its industry has an average Forward P/E of 7.17, 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 94, putting it in the top 38% 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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