Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is Idaho Strategic Resources, Inc. (IDR) 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.
Idaho Strategic Resources, Inc. is a member of the Basic Materials sector. This group includes 238 individual stocks and currently holds a Zacks Sector Rank of #14. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Idaho Strategic Resources, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for IDR's full-year earnings has moved 46.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, IDR has gained about 163.6% so far this year. In comparison, Basic Materials companies have returned an average of 14.2%. This means that Idaho Strategic Resources, Inc. is outperforming the sector as a whole this year.
One other Basic Materials stock that has outperformed the sector so far this year is Denison Mine (DNN). The stock is up 14.4% year-to-date.
In Denison Mine's case, the consensus EPS estimate for the current year increased 8.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Idaho Strategic Resources, Inc. belongs to the Mining - Gold industry, which includes 39 individual stocks and currently sits at #54 in the Zacks Industry Rank. This group has gained an average of 72% so far this year, so IDR is performing better in this area.
On the other hand, Denison Mine belongs to the Mining - Miscellaneous industry. This 64-stock industry is currently ranked #149. The industry has moved +16.7% year to date.
Investors interested in the Basic Materials sector may want to keep a close eye on Idaho Strategic Resources, Inc. and Denison Mine as they attempt to continue their solid performance.
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Idaho Strategic Resources, Inc. (IDR): Free Stock Analysis Report Denison Mine Corp (DNN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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