Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has B2Gold (BTG) been one of those stocks this year? 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.
B2Gold is a member of the Basic Materials sector. This group includes 232 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. B2Gold is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for BTG's full-year earnings has moved 19.2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, BTG has returned 28.7% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 7.1% on average. This means that B2Gold is outperforming the sector as a whole this year.
One other Basic Materials stock that has outperformed the sector so far this year is Akzo Nobel NV (AKZOY). The stock is up 9.5% year-to-date.
Over the past three months, Akzo Nobel NV's consensus EPS estimate for the current year has increased 7.4%. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, B2Gold belongs to the Mining - Gold industry, a group that includes 39 individual companies and currently sits at #47 in the Zacks Industry Rank. On average, stocks in this group have gained 62.2% this year, meaning that BTG is slightly underperforming its industry in terms of year-to-date returns.
In contrast, Akzo Nobel NV falls under the Chemical - Diversified industry. Currently, this industry has 28 stocks and is ranked #205. Since the beginning of the year, the industry has moved -16.8%.
Investors interested in the Basic Materials sector may want to keep a close eye on B2Gold and Akzo Nobel NV as they attempt to continue their solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
B2Gold Corp (BTG): Free Stock Analysis Report Akzo Nobel NV (AKZOY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
