Yahoo Finance Are Basic Materials Stocks Lagging Denison Mine Corp (DNN) This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has Denison Mine (DNN) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Denison Mine is a member of the Basic Materials sector. This group includes 240 individual stocks and currently holds a Zacks Sector Rank of #2. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Denison Mine is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for DNN's full-year earnings has moved 50% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, DNN has moved about 11.3% on a year-to-date basis. At the same time, Basic Materials stocks have lost an average of 3.2%. This means that Denison Mine is outperforming the sector as a whole this year.
Northern Technologies (NTIC) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 47.2%.
In Northern Technologies' case, the consensus EPS estimate for the current year increased 4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Denison Mine is a member of the Mining - Miscellaneous industry, which includes 60 individual companies and currently sits at #93 in the Zacks Industry Rank. This group has lost an average of 8% so far this year, so DNN is performing better in this area.
On the other hand, Northern Technologies belongs to the Chemical - Diversified industry. This 29-stock industry is currently ranked #93. The industry has moved -4.2% year to date.
Denison Mine and Northern Technologies could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.
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