Analyzing the Performance of Basic Materials Stocks: A Focus on Cameco (CCJ)

In the world of Basic Materials stocks, finding companies that are outperforming their peers is essential for investors looking to maximize their returns. One such standout stock this year is Cameco (CCJ), a company in the Basic Materials sector that has been making waves with its impressive performance.

Cameco is currently ranked #15 in the Zacks Sector Rank, which includes 236 individual stocks in the Basic Materials sector. With a Zacks Rank of #1 (Strong Buy), Cameco is showing all the right signs of being a stock that could beat the market over the next few months.

Over the past three months, Cameco’s full-year earnings estimate has increased by 18%, indicating strong analyst sentiment and an improving earnings outlook for the company. So far this year, Cameco has gained about 7.6%, outperforming the Basic Materials sector, which has returned an average of 6.5%.

But Cameco is not the only stock in the Basic Materials sector that is shining bright. Uranium Energy (UEC) is another stock that has outperformed the sector, with a return of 16.1% since the beginning of the year. With a Zacks Rank of #2 (Buy) and a 57.1% increase in the consensus estimate for its current year EPS over the past three months, Uranium Energy is also a stock to watch.

While Cameco is slightly underperforming its industry, the Mining – Miscellaneous sector, with a 7.8% gain so far this year, both Cameco and Uranium Energy are showing strong potential for continued solid performance.

For investors interested in Basic Materials stocks, keeping an eye on Cameco and Uranium Energy could prove to be a wise move as these companies continue to outshine their peers in the sector.

For more information and analysis, you can check out the full report on Zacks.com by clicking here.