The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Coeur Mining (CDE) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Coeur Mining is a member of our Basic Materials group, which includes 232 different companies and currently sits at #8 in the Zacks Sector Rank. 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. Coeur Mining is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CDE's full-year earnings has moved 12% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CDE has returned about 33.6% since the start of the calendar year. In comparison, Basic Materials companies have returned an average of 6%. This means that Coeur Mining is performing better than its sector in terms of year-to-date returns.
Franco-Nevada (FNV) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 34.4%.
Over the past three months, Franco-Nevada's consensus EPS estimate for the current year has increased 1.1%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Coeur Mining is a member of the Mining - Non Ferrous industry, which includes 11 individual companies and currently sits at #84 in the Zacks Industry Rank. Stocks in this group have lost about 3.3% so far this year, so CDE is performing better this group in terms of year-to-date returns.
On the other hand, Franco-Nevada belongs to the Mining - Gold industry. This 39-stock industry is currently ranked #32. The industry has moved +37.2% year to date.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Coeur Mining and Franco-Nevada as they could maintain their solid performance.
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Coeur Mining, Inc. (CDE): Free Stock Analysis Report Franco-Nevada Corporation (FNV): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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