Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is Denison Mine (DNN) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Denison Mine is one of 231 companies in the Basic Materials group. The Basic Materials group currently sits at #15 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Denison Mine is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for DNN's full-year earnings has moved 300% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, DNN has moved about 47% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have gained about 4.5% on average. This means that Denison Mine is performing better than its sector in terms of year-to-date returns.
Another Basic Materials stock, which has outperformed the sector so far this year, is Energy Fuels (UUUU). The stock has returned 33.2% year-to-date.
Over the past three months, Energy Fuels' consensus EPS estimate for the current year has increased 10.5%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Denison Mine is a member of the Mining - Miscellaneous industry, which includes 54 individual companies and currently sits at #155 in the Zacks Industry Rank. This group has gained an average of 8.9% so far this year, so DNN is performing better in this area.
In contrast, Energy Fuels falls under the Mining - Non Ferrous industry. Currently, this industry has 12 stocks and is ranked #210. Since the beginning of the year, the industry has moved +3.9%.
Denison Mine and Energy Fuels 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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Today, See These 5 Potential Home Runs >>Denison Mine Corp (DNN) : Free Stock Analysis Report
Energy Fuels Inc (UUUU) : Free Stock Analysis Report
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