Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. IperionX Limited Sponsored ADR (IPX) 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
IperionX Limited Sponsored ADR is one of 253 companies in the Basic Materials group. The Basic Materials group currently sits at #3 within 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 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. IperionX Limited Sponsored ADR is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for IPX's full-year earnings has moved 8.3% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that IPX has returned about 53.8% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 48.6%. This shows that IperionX Limited Sponsored ADR is outperforming its peers so far this year.
Americas Gold and Silver Corporation (USAS) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 66%.
The consensus estimate for Americas Gold and Silver Corporation's current year EPS has increased 163.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, IperionX Limited Sponsored ADR belongs to the Mining - Miscellaneous industry, a group that includes 73 individual companies and currently sits at #36 in the Zacks Industry Rank. On average, stocks in this group have gained 51.7% this year, meaning that IPX is performing better in terms of year-to-date returns. Americas Gold and Silver Corporation is also part of the same industry.
Investors with an interest in Basic Materials stocks should continue to track IperionX Limited Sponsored ADR and Americas Gold and Silver Corporation. These stocks will be looking to continue their solid performance.
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IperionX Limited Sponsored ADR (IPX): Free Stock Analysis Report Americas Gold and Silver Corporation (USAS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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