The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Aris Mining Corporation (ARMN) 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.
Aris Mining Corporation is a member of the Basic Materials sector. This group includes 239 individual stocks and currently holds a Zacks Sector Rank of #6. 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Aris Mining Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ARMN's full-year earnings has moved 19.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ARMN has gained about 300.6% so far this year. Meanwhile, the Basic Materials sector has returned an average of 24.3% on a year-to-date basis. As we can see, Aris Mining Corporation is performing better than its sector in the calendar year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Hecla Mining (HL). The stock has returned 225.3% year-to-date.
In Hecla Mining's case, the consensus EPS estimate for the current year increased 39.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Aris Mining Corporation is a member of the Mining - Gold industry, which includes 41 individual companies and currently sits at #26 in the Zacks Industry Rank. On average, this group has gained an average of 137.5% so far this year, meaning that ARMN is performing better in terms of year-to-date returns.
On the other hand, Hecla Mining belongs to the Mining - Silver industry. This 9-stock industry is currently ranked #12. The industry has moved +134.4% year to date.
Investors with an interest in Basic Materials stocks should continue to track Aris Mining Corporation and Hecla Mining. These stocks will be looking to continue their solid performance.
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Aris Mining Corporation (ARMN): Free Stock Analysis Report Hecla Mining Company (HL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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