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Is Denison Mine Corp (DNN) Outperforming Other Basic Materials Stocks This Year?

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The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Denison Mine (DNN - Free Report) 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.

Denison Mine is a member of the Basic Materials sector. This group includes 239 individual stocks and currently holds a Zacks Sector Rank of #16. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Denison Mine is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for DNN's full-year earnings has moved 33.3% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the most recent data, DNN has returned 15.7% so far this year. Meanwhile, the Basic Materials sector has returned an average of 3.2% on a year-to-date basis. As we can see, Denison Mine is performing better than its sector in the calendar year.

Another stock in the Basic Materials sector, Livent , has outperformed the sector so far this year. The stock's year-to-date return is 8.4%.

For Livent, the consensus EPS estimate for the current year has increased 6% over the past three months. 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 52 individual companies and currently sits at #189 in the Zacks Industry Rank. Stocks in this group have lost about 6.9% so far this year, so DNN is performing better this group in terms of year-to-date returns.

On the other hand, Livent belongs to the Chemical - Specialty industry. This 34-stock industry is currently ranked #196. The industry has moved +8% year to date.

Investors with an interest in Basic Materials stocks should continue to track Denison Mine and Livent. These stocks will be looking to continue their solid performance.


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