Is Centamin (CELTF) Stock Outpacing Its Basic Materials Peers This Year?
The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Centamin (CELTF) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Centamin is a member of the Basic Materials sector. This group includes 237 individual stocks and currently holds a Zacks Sector Rank of #15. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Centamin is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CELTF's full-year earnings has moved 11.1% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CELTF has gained about 3% so far this year. In comparison, Basic Materials companies have returned an average of -5%. As we can see, Centamin is performing better than its sector in the calendar year.
One other Basic Materials stock that has outperformed the sector so far this year is Denison Mine (DNN). The stock is up 1.7% year-to-date.
The consensus estimate for Denison Mine's current year EPS has increased 50% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Centamin belongs to the Mining - Miscellaneous industry, a group that includes 56 individual companies and currently sits at #141 in the Zacks Industry Rank. On average, this group has lost an average of 14% so far this year, meaning that CELTF is performing better in terms of year-to-date returns. Denison Mine is also part of the same industry.
Investors with an interest in Basic Materials stocks should continue to track Centamin and Denison Mine. These stocks will be looking to continue their solid performance.
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