The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Coeur Mining (CDE) 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.
Coeur Mining is a member of our Basic Materials group, which includes 238 different companies and currently sits at #11 in 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. Coeur Mining is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CDE's full-year earnings has moved 57.6% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, CDE has moved about 70.5% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have gained about 11.7% on average. This means that Coeur Mining is performing better than its sector in terms of year-to-date returns.
Another Basic Materials stock, which has outperformed the sector so far this year, is US Gold Corp (USAU). The stock has returned 82.7% year-to-date.
Over the past three months, US Gold Corp's consensus EPS estimate for the current year has increased 4.6%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Coeur Mining belongs to the Mining - Non Ferrous industry, a group that includes 11 individual stocks and currently sits at #51 in the Zacks Industry Rank. Stocks in this group have lost about 1.1% so far this year, so CDE is performing better this group in terms of year-to-date returns.
On the other hand, US Gold Corp belongs to the Mining - Gold industry. This 39-stock industry is currently ranked #55. The industry has moved +69% year to date.
Investors with an interest in Basic Materials stocks should continue to track Coeur Mining and US Gold Corp. These stocks will be looking to continue their solid performance.
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Coeur Mining, Inc. (CDE): Free Stock Analysis Report US Gold Corp (USAU): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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