For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Fury Gold Mines Limited (FURY) been one of those stocks this year? 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.
Fury Gold Mines Limited is one of 236 individual stocks in the Basic Materials sector. Collectively, these companies sit at #14 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Fury Gold Mines Limited is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for FURY's full-year earnings has moved 16.7% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, FURY has moved about 88% on a year-to-date basis. At the same time, Basic Materials stocks have gained an average of 18.2%. This means that Fury Gold Mines Limited is outperforming the sector as a whole this year.
One other Basic Materials stock that has outperformed the sector so far this year is Hawkins (HWKN). The stock is up 40.2% year-to-date.
For Hawkins, the consensus EPS estimate for the current year has increased 1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Fury Gold Mines Limited belongs to the Mining - Gold industry, a group that includes 39 individual companies and currently sits at #95 in the Zacks Industry Rank. On average, stocks in this group have gained 96.1% this year, meaning that FURY is slightly underperforming its industry in terms of year-to-date returns.
In contrast, Hawkins falls under the Chemical - Specialty industry. Currently, this industry has 37 stocks and is ranked #171. Since the beginning of the year, the industry has moved +6%.
Investors interested in the Basic Materials sector may want to keep a close eye on Fury Gold Mines Limited and Hawkins as they attempt to continue their solid performance.
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Fury Gold Mines Limited (FURY): Free Stock Analysis Report Hawkins, Inc. (HWKN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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