Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is Fury Gold Mines Limited (FURY) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
Fury Gold Mines Limited is a member of our Basic Materials group, which includes 240 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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).
Over the past 90 days, the Zacks Consensus Estimate for FURY's full-year earnings has moved 28.6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, FURY has moved about 59.2% on a year-to-date basis. In comparison, Basic Materials companies have returned an average of 21.5%. This means that Fury Gold Mines Limited is performing better than its sector in terms of year-to-date returns.
One other Basic Materials stock that has outperformed the sector so far this year is Kinross Gold (KGC). The stock is up 148.9% year-to-date.
The consensus estimate for Kinross Gold's current year EPS has increased 17.1% 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 41 individual companies and currently sits at #24 in the Zacks Industry Rank. Stocks in this group have gained about 101.7% so far this year, so FURY is slightly underperforming its industry this group in terms of year-to-date returns. Kinross Gold is also part of the same industry.
Fury Gold Mines Limited and Kinross Gold could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.
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Fury Gold Mines Limited (FURY): Free Stock Analysis Report Kinross Gold Corporation (KGC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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