For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Fortuna Mining (FSM) 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? Let's take a closer look at the stock's year-to-date performance to find out.
Fortuna Mining is one of 240 individual stocks in the Basic Materials sector. Collectively, these companies sit at #7 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 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. Fortuna Mining is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for FSM's full-year earnings has moved 2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, FSM has gained about 90.2% so far this year. At the same time, Basic Materials stocks have gained an average of 23.4%. This means that Fortuna Mining is outperforming the sector as a whole this year.
Integra Resources Corp. (ITRG) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 232.2%.
In Integra Resources Corp.'s case, the consensus EPS estimate for the current year increased 55.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Fortuna Mining belongs to the Mining - Miscellaneous industry, a group that includes 69 individual stocks and currently sits at #49 in the Zacks Industry Rank. This group has gained an average of 27.8% so far this year, so FSM is performing better in this area. Integra Resources Corp. is also part of the same industry.
Investors with an interest in Basic Materials stocks should continue to track Fortuna Mining and Integra Resources Corp.. These stocks will be looking to continue their solid performance.
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
Fortuna Mining Corp. (FSM): Free Stock Analysis Report Integra Resources Corp. (ITRG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
