In the latest market close, Cameco (CCJ) reached $49.06, with a +0.53% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.12%. At the same time, the Dow added 0.52%, and the tech-heavy Nasdaq lost 0.23%.

Coming into today, shares of the uranium producer had lost 9.95% in the past month. In that same time, the Basic Materials sector lost 7.17%, while the S&P 500 lost 3.45%.

Market participants will be closely following the financial results of Cameco in its upcoming release. The company plans to announce its earnings on February 20, 2025. The company's upcoming EPS is projected at $0.17, signifying a 13.33% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $735.56 million, indicating a 18.64% upward movement from the same quarter last year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Cameco. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.65% decrease. At present, Cameco boasts a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Cameco has a Forward P/E ratio of 37.25 right now. For comparison, its industry has an average Forward P/E of 11.65, which means Cameco is trading at a premium to the group.

The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 159, finds itself in the bottom 37% echelons of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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.

Zacks Investment Research