Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Perimeter Solutions, SA (PRM) 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.
Perimeter Solutions, SA 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 gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Perimeter Solutions, SA is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for PRM's full-year earnings has moved 23.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that PRM has returned about 117.3% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 24.3%. This means that Perimeter Solutions, SA 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 Fortuna Mining (FSM). The stock is up 127.5% year-to-date.
Over the past three months, Fortuna Mining's consensus EPS estimate for the current year has increased 20.3%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Perimeter Solutions, SA belongs to the Chemical - Specialty industry, a group that includes 37 individual companies and currently sits at #183 in the Zacks Industry Rank. This group has lost an average of 1.7% so far this year, so PRM is performing better in this area.
On the other hand, Fortuna Mining belongs to the Mining - Miscellaneous industry. This 68-stock industry is currently ranked #80. The industry has moved +25.1% year to date.
Perimeter Solutions, SA and Fortuna Mining 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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Perimeter Solutions, SA (PRM): Free Stock Analysis Report Fortuna Mining Corp. (FSM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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