Here's Why Cameco (CCJ) is a Great Momentum Stock to Buy

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1][2] Company Analysis: Cameco (CCJ) - Cameco currently holds a Momentum Style Score of A, indicating strong momentum characteristics [3] - The company has a Zacks Rank of 2 (Buy), suggesting it is positioned for potential outperformance in the market [4] - Over the past week, CCJ shares increased by 3.23%, while the Zacks Mining - Miscellaneous industry rose by 4.21% [6] - In a longer timeframe, CCJ shares have appreciated by 50.1% over the past quarter and 26.49% over the last year, outperforming the S&P 500's gains of 8.49% and 13.75%, respectively [7] - The average 20-day trading volume for CCJ is 6,202,374 shares, indicating a bullish sentiment as the stock is rising with above-average volume [8] Earnings Outlook - In the last two months, 5 earnings estimates for CCJ have been revised upwards, while only 1 estimate was revised downwards, leading to an increase in the consensus estimate from $0.96 to $1.11 [10] - For the next fiscal year, all 5 estimates have moved upwards with no downward revisions, indicating positive earnings momentum [10] Conclusion - Given the strong momentum indicators and positive earnings outlook, CCJ is positioned as a 2 (Buy) stock with a Momentum Score of A, making it a potential candidate for investors seeking short-term gains [12]