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Is Denison Mine Corp (DNN) Stock Outpacing Its Basic Materials Peers This Year?
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Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Denison Mine (DNN - 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? 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 one of 240 individual stocks in the Basic Materials sector. Collectively, these companies sit at #10 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 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).
Over the past three months, the Zacks Consensus Estimate for DNN's full-year earnings has moved 50% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, DNN has returned 17% so far this year. In comparison, Basic Materials companies have returned an average of 0.3%. This means that Denison Mine is outperforming the sector as a whole this year.
Metals Acquisition Ltd (MTAL - Free Report) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 9.2%.
Over the past three months, Metals Acquisition Ltd's consensus EPS estimate for the current year has increased 33.3%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Denison Mine belongs to the Mining - Miscellaneous industry, a group that includes 60 individual stocks and currently sits at #159 in the Zacks Industry Rank. Stocks in this group have lost about 7.2% so far this year, so DNN is performing better this group in terms of year-to-date returns.
In contrast, Metals Acquisition Ltd falls under the Mining - Non Ferrous industry. Currently, this industry has 12 stocks and is ranked #57. Since the beginning of the year, the industry has moved +24.2%.
Investors interested in the Basic Materials sector may want to keep a close eye on Denison Mine and Metals Acquisition Ltd as they attempt to continue their solid performance.
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Is Denison Mine Corp (DNN) Stock Outpacing Its Basic Materials Peers This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Denison Mine (DNN - 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? 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 one of 240 individual stocks in the Basic Materials sector. Collectively, these companies sit at #10 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 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).
Over the past three months, the Zacks Consensus Estimate for DNN's full-year earnings has moved 50% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, DNN has returned 17% so far this year. In comparison, Basic Materials companies have returned an average of 0.3%. This means that Denison Mine is outperforming the sector as a whole this year.
Metals Acquisition Ltd (MTAL - Free Report) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 9.2%.
Over the past three months, Metals Acquisition Ltd's consensus EPS estimate for the current year has increased 33.3%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Denison Mine belongs to the Mining - Miscellaneous industry, a group that includes 60 individual stocks and currently sits at #159 in the Zacks Industry Rank. Stocks in this group have lost about 7.2% so far this year, so DNN is performing better this group in terms of year-to-date returns.
In contrast, Metals Acquisition Ltd falls under the Mining - Non Ferrous industry. Currently, this industry has 12 stocks and is ranked #57. Since the beginning of the year, the industry has moved +24.2%.
Investors interested in the Basic Materials sector may want to keep a close eye on Denison Mine and Metals Acquisition Ltd as they attempt to continue their solid performance.