Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is Dundee Precious Metals Inc. (DPMLF) 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.
Dundee Precious Metals Inc. is a member of the Basic Materials sector. This group includes 232 individual stocks and currently holds a Zacks Sector Rank of #5. 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 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. Dundee Precious Metals Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for DPMLF's full-year earnings has moved 18.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, DPMLF has returned 40.6% so far this year. Meanwhile, the Basic Materials sector has returned an average of 4.5% on a year-to-date basis. This means that Dundee Precious Metals Inc. is outperforming the sector as a whole this year.
Agnico Eagle Mines (AEM) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 42.1%.
Over the past three months, Agnico Eagle Mines' consensus EPS estimate for the current year has increased 29.3%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Dundee Precious Metals Inc. is a member of the Mining - Gold industry, which includes 39 individual companies and currently sits at #40 in the Zacks Industry Rank. On average, this group has gained an average of 40.3% so far this year, meaning that DPMLF is performing better in terms of year-to-date returns. Agnico Eagle Mines is also part of the same industry.
Investors interested in the Basic Materials sector may want to keep a close eye on Dundee Precious Metals Inc. and Agnico Eagle Mines as they attempt to continue their solid performance.
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Dundee Precious Metals Inc. (DPMLF): Free Stock Analysis Report Agnico Eagle Mines Limited (AEM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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