Uranium Energy (UEC) closed at $2.61 in the latest trading session, marking a +1.16% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.83%. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 4.46%.
Heading into today, shares of the uranium mining and exploration company had lost 11.03% over the past month, lagging the Basic Materials sector's gain of 0.87% and the S&P 500's gain of 4.04% in that time.
Uranium Energy will be looking to display strength as it nears its next earnings release. On that day, Uranium Energy is projected to report earnings of -$0.02 per share, which would represent a year-over-year decline of 166.67%.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.02 per share and revenue of $113.95 million, which would represent changes of -200% and +391.99%, respectively, from the prior year.
Any recent changes to analyst estimates for Uranium Energy should also be noted by investors. These revisions help to show the ever-changing nature 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 shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Uranium Energy currently has a Zacks Rank of #1 (Strong Buy).
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 182, putting it in the bottom 28% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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