The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Newmont Corporation (NEM) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
Newmont Corporation is a member of the Basic Materials sector. This group includes 238 individual stocks and currently holds a Zacks Sector Rank of #9. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Newmont Corporation is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for NEM's full-year earnings has moved 19.8% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, NEM has returned 63.4% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 13.2% on average. This shows that Newmont Corporation is outperforming its peers so far this year.
One other Basic Materials stock that has outperformed the sector so far this year is Air Liquide (AIQUY). The stock is up 26.4% year-to-date.
For Air Liquide, the consensus EPS estimate for the current year has increased 1.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Newmont Corporation belongs to the Mining - Gold industry, a group that includes 39 individual companies and currently sits at #15 in the Zacks Industry Rank. This group has gained an average of 53.4% so far this year, so NEM is performing better in this area.
In contrast, Air Liquide falls under the Chemical - Diversified industry. Currently, this industry has 29 stocks and is ranked #213. Since the beginning of the year, the industry has moved -11.5%.
Investors interested in the Basic Materials sector may want to keep a close eye on Newmont Corporation and Air Liquide as they attempt to continue their solid performance.
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Newmont Corporation (NEM): Free Stock Analysis Report Air Liquide (AIQUY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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