In the latest trading session, Cameco (CCJ) closed at $50.36, marking a +0.86% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.67%. Meanwhile, the Dow gained 0.38%, and the Nasdaq, a tech-heavy index, added 0.98%.

Coming into today, shares of the uranium producer had gained 1.4% in the past month. In that same time, the Basic Materials sector gained 6.91%, while the S&P 500 gained 2.07%.

The investment community will be paying close attention to the earnings performance of Cameco in its upcoming release. The company is slated to reveal its earnings on February 20, 2025. The company's earnings per share (EPS) are projected to be $0.23, reflecting a 53.33% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $735.56 million, reflecting a 18.64% rise from the equivalent quarter last year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Cameco. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.51% decrease. Cameco is currently a Zacks Rank #3 (Hold).

Looking at valuation, Cameco is presently trading at a Forward P/E ratio of 39.5. For comparison, its industry has an average Forward P/E of 12.11, which means Cameco is trading at a premium to the group.

The Mining - Miscellaneous industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 143, positioning it in the bottom 44% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.

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