Cameco (CCJ) closed at $37.16 in the latest trading session, marking a -1.77% move from the prior day. This move lagged the S&P 500's daily loss of 0.23%. Elsewhere, the Dow lost 0.91%, while the tech-heavy Nasdaq added 0.1%.

The the stock of uranium producer has fallen by 9.56% in the past month, lagging the Basic Materials sector's loss of 8.32% and overreaching the S&P 500's loss of 12.13%.

Market participants will be closely following the financial results of Cameco in its upcoming release. The company's upcoming EPS is projected at $0.26, signifying a 160% increase compared to the same quarter of the previous year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.05 per share and a revenue of $2.54 billion, signifying shifts of +114.29% 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 revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research suggests that these changes in estimates have a direct relationship with upcoming 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 7.52% lower within the past month. As of now, Cameco holds a Zacks Rank of #3 (Hold).

With respect to valuation, Cameco is currently being traded at a Forward P/E ratio of 36.2. This valuation marks a premium compared to its industry's average Forward P/E of 9.96.

The Mining - Miscellaneous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 168, placing it within the bottom 33% of over 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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