The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Barrick Mining (B) one of those stocks right now? 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 241 different companies and currently sits at #11 in the Zacks Sector Rank. 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 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. Barrick Mining is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for B's full-year earnings has moved 13.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that B has returned about 177% since the start of the calendar year. Meanwhile, the Basic Materials sector has returned an average of 27.7% on a year-to-date basis. This shows that Barrick Mining is outperforming its peers so far this year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Commercial Metals (CMC). The stock has returned 43.2% year-to-date.
In Commercial Metals' case, the consensus EPS estimate for the current year increased 47% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Barrick Mining is a member of the Mining - Gold industry, which includes 41 individual companies and currently sits at #32 in the Zacks Industry Rank. This group has gained an average of 143.4% so far this year, so B is performing better in this area.
Commercial Metals, however, belongs to the Steel - Producers industry. Currently, this 18-stock industry is ranked #150. The industry has moved +46.9% so far this year.
Investors with an interest in Basic Materials stocks should continue to track Barrick Mining and Commercial Metals. These stocks will be looking to continue their solid performance.
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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).
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