We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Are Basic Materials Stocks Lagging Cameco (CCJ) This Year?
Read MoreHide Full Article
For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Cameco (CCJ - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
Cameco is one of 236 individual stocks in the Basic Materials sector. Collectively, these companies sit at #15 in 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. Cameco is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CCJ's full-year earnings has moved 4.5% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, CCJ has moved about 8.3% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have gained about 8.1% on average. This means that Cameco is outperforming the sector as a whole this year.
Another stock in the Basic Materials sector, Uranium Energy (UEC - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 8.3%.
Over the past three months, Uranium Energy's consensus EPS estimate for the current year has increased 14.3%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Cameco belongs to the Mining - Miscellaneous industry, which includes 56 individual stocks and currently sits at #154 in the Zacks Industry Rank. This group has gained an average of 9.4% so far this year, so CCJ is slightly underperforming its industry in this area. Uranium Energy is also part of the same industry.
Cameco and Uranium Energy could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Are Basic Materials Stocks Lagging Cameco (CCJ) This Year?
For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Cameco (CCJ - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
Cameco is one of 236 individual stocks in the Basic Materials sector. Collectively, these companies sit at #15 in 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. Cameco is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CCJ's full-year earnings has moved 4.5% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, CCJ has moved about 8.3% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have gained about 8.1% on average. This means that Cameco is outperforming the sector as a whole this year.
Another stock in the Basic Materials sector, Uranium Energy (UEC - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 8.3%.
Over the past three months, Uranium Energy's consensus EPS estimate for the current year has increased 14.3%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Cameco belongs to the Mining - Miscellaneous industry, which includes 56 individual stocks and currently sits at #154 in the Zacks Industry Rank. This group has gained an average of 9.4% so far this year, so CCJ is slightly underperforming its industry in this area. Uranium Energy is also part of the same industry.
Cameco and Uranium Energy could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.