Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is Dundee Precious Metals Inc. (DPMLF) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
Dundee Precious Metals Inc. is one of 235 companies in the Basic Materials group. The Basic Materials group currently sits at #10 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Dundee Precious Metals Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for DPMLF's full-year earnings has moved 2.8% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, DPMLF has gained about 53.1% so far this year. In comparison, Basic Materials companies have returned an average of -0.4%. This means that Dundee Precious Metals Inc. is outperforming the sector as a whole this year.
Another stock in the Basic Materials sector, Agnico Eagle Mines (AEM), has outperformed the sector so far this year. The stock's year-to-date return is 56.4%.
The consensus estimate for Agnico Eagle Mines' current year EPS has increased 11.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Dundee Precious Metals Inc. belongs to the Mining - Gold industry, which includes 38 individual stocks and currently sits at #13 in the Zacks Industry Rank. On average, this group has gained an average of 25.1% so far this year, meaning that DPMLF is performing better in terms of year-to-date returns. Agnico Eagle Mines is also part of the same industry.
Investors interested in the Basic Materials sector may want to keep a close eye on Dundee Precious Metals Inc. and Agnico Eagle Mines as they attempt to continue their solid performance.
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Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report
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