Uranium Energy (UEC) closed the most recent trading day at $2.64, moving -1.86% from the previous trading session. This change lagged the S&P 500's 0.88% gain on the day. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq lost 3.76%.
Coming into today, shares of the uranium mining and exploration company had gained 6.75% in the past month. In that same time, the Basic Materials sector lost 7.06%, while the S&P 500 lost 0.38%.
Uranium Energy will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.02, down 166.67% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0 per share and revenue of $113.95 million, which would represent changes of -100% and +391.99%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Uranium Energy. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 has moved 100% higher. Uranium Energy is currently a Zacks Rank #1 (Strong Buy).
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 171, putting it in the bottom 33% 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.
To follow UEC in the coming trading sessions, be sure to utilize Zacks.com.
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