The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Cameco (CCJ) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.
Cameco is a member of our Oils-Energy group, which includes 237 different companies and currently sits at #12 in the Zacks Sector Rank. 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 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. Cameco is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for CCJ's full-year earnings has moved 2.8% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CCJ has returned 23.3% so far this year. In comparison, Oils-Energy companies have returned an average of 11.9%. This means that Cameco is outperforming the sector as a whole this year.
Uranium Royalty Corp. (UROY) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 22.9%.
In Uranium Royalty Corp.'s case, the consensus EPS estimate for the current year increased 200% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Cameco is a member of the Alternative Energy - Other industry, which includes 47 individual companies and currently sits at #103 in the Zacks Industry Rank. On average, this group has gained an average of 39.9% so far this year, meaning that CCJ is slightly underperforming its industry in terms of year-to-date returns. Uranium Royalty Corp. is also part of the same industry.
Cameco and Uranium Royalty Corp. could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.
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Cameco Corporation (CCJ): Free Stock Analysis Report Uranium Royalty Corp. (UROY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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