Centrus Energy Corp. (LEU) shares rallied 26.3% in the last trading session to close at $77.39. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 53.8% gain over the past four weeks.

Centrus Energy’s shares surged on the news that Amazon Web Services, the cloud computing arm of Amazon (AMZN) has signed three new agreements to support the development of nuclear energy projects—including enabling the construction of several new Small Modular Reactors (SMRs).

Recently, Centrus Energy’s subsidiary, American Centrifuge Operating, LLC won an award from the U.S. Department of Energy to support the deployment of technology and equipment to deconvert High-Assay, Low-Enriched Uranium (HALEU) from uranium hexafluoride (UF6) to uranium oxide and/or uranium metal forms, a key step in the nuclear fuel production process.  This award is an important step toward expanding and diversifying the capabilities of the company’s Ohio facility. 

This company is expected to post quarterly earnings of $0.18 per share in its upcoming report, which represents a year-over-year change of -65.4%. Revenues are expected to be $56.5 million, up 10.1% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Centrus Energy, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on LEU going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Centrus Energy is part of the Zacks Mining - Non Ferrous industry. Lundin Mining (LUNMF), another stock in the same industry, closed the last trading session 3.3% higher at $10.49. LUNMF has returned 10.7% in the past month.

For Lundin , the consensus EPS estimate for the upcoming report has changed -11.8% over the past month to $0.19. This represents a change of +72.7% from what the company reported a year ago. Lundin currently has a Zacks Rank of #3 (Hold).

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