In the latest market close, Cameco (CCJ) reached $41.31, with a +1.15% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.79%. Elsewhere, the Dow gained 0.78%, while the tech-heavy Nasdaq added 0.64%.

Shares of the uranium producer witnessed a loss of 3.84% over the previous month, beating the performance of the Basic Materials sector with its loss of 4.43% and underperforming the S&P 500's loss of 3.56%.

Investors will be eagerly watching for the performance of Cameco in its upcoming earnings disclosure. In that report, analysts expect Cameco to post earnings of $0.21 per share. This would mark year-over-year growth of 110%.

For the full year, the Zacks Consensus Estimates project earnings of $0.96 per share and a revenue of $2.45 billion, demonstrating changes of +95.92% and +7.49%, respectively, from the preceding year.

Investors should also take note of any recent adjustments to analyst estimates for Cameco. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 past month, the Zacks Consensus EPS estimate has moved 5.6% lower. Cameco is holding a Zacks Rank of #3 (Hold) right now.

Looking at valuation, Cameco is presently trading at a Forward P/E ratio of 42.42. This denotes a premium relative to the industry's average Forward P/E of 11.35.

The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 155, finds itself in the bottom 38% echelons 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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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