The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Barrick Mining (B) been one of those stocks this year? 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.
Barrick 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 considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Barrick Mining is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for B's full-year earnings has moved 14.3% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, B has gained about 140.8% so far this year. In comparison, Basic Materials companies have returned an average of 23.4%. This shows that Barrick Mining is outperforming its peers so far this year.
Commercial Metals (CMC) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 23.7%.
For Commercial Metals, the consensus EPS estimate for the current year has increased 12.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Barrick Mining belongs to the Mining - Gold industry, a group that includes 41 individual stocks and currently sits at #24 in the Zacks Industry Rank. On average, this group has gained an average of 130% so far this year, meaning that B is performing better in terms of year-to-date returns.
Commercial Metals, however, belongs to the Steel - Producers industry. Currently, this 18-stock industry is ranked #174. The industry has moved +36.1% so far this year.
Investors interested in the Basic Materials sector may want to keep a close eye on Barrick Mining and Commercial Metals as they attempt 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
Barrick Mining Corporation (B): Free Stock Analysis Report Commercial Metals Company (CMC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
