The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Contango ORE, Inc. (CTGO) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Contango ORE, Inc. is one of 238 companies in the Basic Materials group. The Basic Materials group currently sits at #6 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Contango ORE, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CTGO's full-year earnings has moved 176.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, CTGO has moved about 98% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have gained about 12% on average. This means that Contango ORE, Inc. is outperforming the sector as a whole this year.
Another stock in the Basic Materials sector, Alamos Gold (AGI), has outperformed the sector so far this year. The stock's year-to-date return is 37.6%.
The consensus estimate for Alamos Gold's current year EPS has increased 2.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Contango ORE, Inc. belongs to the Mining - Miscellaneous industry, a group that includes 64 individual companies and currently sits at #150 in the Zacks Industry Rank. On average, this group has gained an average of 18.2% so far this year, meaning that CTGO is performing better in terms of year-to-date returns.
Alamos Gold, however, belongs to the Mining - Gold industry. Currently, this 39-stock industry is ranked #15. The industry has moved +49.7% so far this year.
Investors interested in the Basic Materials sector may want to keep a close eye on Contango ORE, Inc. and Alamos Gold as they attempt to continue their solid performance.
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Contango ORE, Inc. (CTGO): Free Stock Analysis Report Alamos Gold Inc. (AGI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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