Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Orla Mining Ltd. (ORLA) 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? 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.
Orla Mining Ltd. is one of 239 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Orla Mining Ltd. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ORLA's full-year earnings has moved 37.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that ORLA has returned about 128.9% since the start of the calendar year. Meanwhile, the Basic Materials sector has returned an average of 19.4% on a year-to-date basis. This shows that Orla Mining Ltd. is outperforming its peers so far this year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Salzgitter AG (SZGPY). The stock has returned 112.9% year-to-date.
The consensus estimate for Salzgitter AG's current year EPS has increased 47.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Orla Mining Ltd. is a member of the Mining - Gold industry, which includes 41 individual companies and currently sits at #49 in the Zacks Industry Rank. This group has gained an average of 124.1% so far this year, so ORLA is performing better in this area.
In contrast, Salzgitter AG falls under the Steel - Producers industry. Currently, this industry has 18 stocks and is ranked #160. Since the beginning of the year, the industry has moved +34%.
Investors with an interest in Basic Materials stocks should continue to track Orla Mining Ltd. and Salzgitter AG. These stocks will be looking to continue their solid performance.
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Orla Mining Ltd. (ORLA): Free Stock Analysis Report Salzgitter AG (SZGPY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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