Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is Triple Flag Precious Metals (TFPM) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Triple Flag Precious Metals is one of 238 companies in the Basic Materials group. The Basic Materials group currently sits at #13 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 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. Triple Flag Precious Metals is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for TFPM's full-year earnings has moved 8.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, TFPM has gained about 60.7% so far this year. In comparison, Basic Materials companies have returned an average of 13.9%. This means that Triple Flag Precious Metals is performing better than its sector in terms of year-to-date returns.
One other Basic Materials stock that has outperformed the sector so far this year is Coeur Mining (CDE). The stock is up 59.4% year-to-date.
For Coeur Mining, the consensus EPS estimate for the current year has increased 67.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Triple Flag Precious Metals is a member of the Mining - Gold industry, which includes 39 individual companies and currently sits at #43 in the Zacks Industry Rank. This group has gained an average of 55.9% so far this year, so TFPM is performing better in this area.
Coeur Mining, however, belongs to the Mining - Non Ferrous industry. Currently, this 11-stock industry is ranked #74. The industry has moved +11.1% so far this year.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Triple Flag Precious Metals and Coeur Mining as they could maintain their solid performance.
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Triple Flag Precious Metals Corp. (TFPM): Free Stock Analysis Report Coeur Mining, Inc. (CDE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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