The most recent trading session ended with Cameco (CCJ) standing at $44.85, reflecting a +1.49% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.22% loss on the day. Elsewhere, the Dow saw a downswing of 0.03%, while the tech-heavy Nasdaq depreciated by 0.33%.

The the stock of uranium producer has fallen by 5.07% in the past month, lagging the Basic Materials sector's loss of 0.38% and overreaching the S&P 500's loss of 7.48%.

The upcoming earnings release of Cameco will be of great interest to investors. On that day, Cameco is projected to report earnings of $0.26 per share, which would represent year-over-year growth of 160%.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.02 per share and a revenue of $2.54 billion, signifying shifts of +108.16% and +11.24%, respectively, from the last year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Cameco. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 19.94% decrease. Currently, Cameco is carrying a Zacks Rank of #5 (Strong Sell).

In the context of valuation, Cameco is at present trading with a Forward P/E ratio of 43.32. This represents a premium compared to its industry's average Forward P/E of 13.15.

The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 173, which puts it in the bottom 32% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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Cameco Corporation (CCJ) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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