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? 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.
Barrick Mining is a member of our Basic Materials group, which includes 239 different companies and currently sits at #7 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader 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 13.8% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, B has returned 166.7% so far this year. Meanwhile, the Basic Materials sector has returned an average of 25.4% on a year-to-date basis. This shows that Barrick Mining is outperforming its peers so far this year.
One other Basic Materials stock that has outperformed the sector so far this year is Kinross Gold (KGC). The stock is up 203.2% year-to-date.
Over the past three months, Kinross Gold's consensus EPS estimate for the current year has increased 17.2%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Barrick Mining belongs to the Mining - Gold industry, which includes 41 individual stocks and currently sits at #25 in the Zacks Industry Rank. This group has gained an average of 138.9% so far this year, so B is performing better in this area. Kinross Gold is also part of the same industry.
Barrick Mining 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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Barrick Mining Corporation (B): 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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