Is Dundee Precious Metals (DPMLF) Stock Outpacing Its Basic Materials Peers This Year?

For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Dundee Precious Metals Inc. (DPMLF) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 one of 232 companies in the Basic Materials group. The Basic Materials group currently sits at #14 within 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. Dundee Precious Metals Inc. is currently sporting a Zacks Rank of #2 (Buy).Over the past three months, the Zacks Consensus Estimate for DPMLF's full-year earnings has moved 10.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.According to our latest data, DPMLF has moved about 57.3% on a year-to-date basis. In comparison, Basic Materials companies have returned an average of 1.4%. This means that Dundee Precious Metals Inc. is performing better than its sector in terms of year-to-date returns.One other Basic Materials stock that has outperformed the sector so far this year is Newmont Corporation (NEM). The stock is up 50.3% year-to-date.The consensus estimate for Newmont Corporation's current year EPS has increased 10% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, Dundee Precious Metals Inc. belongs to the Mining - Gold industry, which includes 39 individual stocks and currently sits at #157 in the Zacks Industry Rank. This group has gained an average of 54.9% so far this year, so DPMLF is performing better in this area. Newmont Corporation is also part of the same industry.Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Dundee Precious Metals Inc. and Newmont Corporation as they could maintain their solid performance.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Dundee Precious Metals Inc. (DPMLF): Free Stock Analysis Report Newmont Corporation (NEM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks