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Are Basic Materials Stocks Lagging Barrick Mining Corporation (B) This Year?
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For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Barrick Mining (B - Free Report) 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.
Barrick Mining is a member of our Basic Materials group, which includes 238 different companies and currently sits at #13 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 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 18.2% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, B has gained about 36.1% so far this year. In comparison, Basic Materials companies have returned an average of 9.7%. This means that Barrick Mining is performing better than its sector in terms of year-to-date returns.
Another Basic Materials stock, which has outperformed the sector so far this year, is Newmont Corporation (NEM - Free Report) . The stock has returned 67.4% year-to-date.
Over the past three months, Newmont Corporation's consensus EPS estimate for the current year has increased 31.2%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Barrick Mining belongs to the Mining - Gold industry, which includes 39 individual stocks and currently sits at #43 in the Zacks Industry Rank. On average, stocks in this group have gained 53% this year, meaning that B is slightly underperforming its industry in terms of year-to-date returns. Newmont Corporation is also part of the same industry.
Investors with an interest in Basic Materials stocks should continue to track Barrick Mining and Newmont Corporation. These stocks will be looking to continue their solid performance.
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Are Basic Materials Stocks Lagging Barrick Mining Corporation (B) This Year?
For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Barrick Mining (B - Free Report) 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.
Barrick Mining is a member of our Basic Materials group, which includes 238 different companies and currently sits at #13 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 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 18.2% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, B has gained about 36.1% so far this year. In comparison, Basic Materials companies have returned an average of 9.7%. This means that Barrick Mining is performing better than its sector in terms of year-to-date returns.
Another Basic Materials stock, which has outperformed the sector so far this year, is Newmont Corporation (NEM - Free Report) . The stock has returned 67.4% year-to-date.
Over the past three months, Newmont Corporation's consensus EPS estimate for the current year has increased 31.2%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Barrick Mining belongs to the Mining - Gold industry, which includes 39 individual stocks and currently sits at #43 in the Zacks Industry Rank. On average, stocks in this group have gained 53% this year, meaning that B is slightly underperforming its industry in terms of year-to-date returns. Newmont Corporation is also part of the same industry.
Investors with an interest in Basic Materials stocks should continue to track Barrick Mining and Newmont Corporation. These stocks will be looking to continue their solid performance.