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Has Ryerson Holding (RYI) Outpaced Other Basic Materials Stocks 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. Is Ryerson Holding (RYI - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
Ryerson Holding is one of 244 companies in the Basic Materials group. The Basic Materials group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Ryerson Holding is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for RYI's full-year earnings has moved 11.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, RYI has moved about 8.7% on a year-to-date basis. At the same time, Basic Materials stocks have gained an average of 7.7%. This means that Ryerson Holding is outperforming the sector as a whole this year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Gold Resource (GORO - Free Report) . The stock has returned 14.7% year-to-date.
The consensus estimate for Gold Resource's current year EPS has increased 21.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Ryerson Holding belongs to the Steel - Producers industry, which includes 23 individual stocks and currently sits at #31 in the Zacks Industry Rank. On average, stocks in this group have gained 10.4% this year, meaning that RYI is slightly underperforming its industry in terms of year-to-date returns.
In contrast, Gold Resource falls under the Mining - Gold industry. Currently, this industry has 38 stocks and is ranked #161. Since the beginning of the year, the industry has moved +14%.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Ryerson Holding and Gold Resource as they could maintain their solid performance.
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Has Ryerson Holding (RYI) Outpaced Other Basic Materials Stocks 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. Is Ryerson Holding (RYI - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
Ryerson Holding is one of 244 companies in the Basic Materials group. The Basic Materials group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Ryerson Holding is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for RYI's full-year earnings has moved 11.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, RYI has moved about 8.7% on a year-to-date basis. At the same time, Basic Materials stocks have gained an average of 7.7%. This means that Ryerson Holding is outperforming the sector as a whole this year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Gold Resource (GORO - Free Report) . The stock has returned 14.7% year-to-date.
The consensus estimate for Gold Resource's current year EPS has increased 21.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Ryerson Holding belongs to the Steel - Producers industry, which includes 23 individual stocks and currently sits at #31 in the Zacks Industry Rank. On average, stocks in this group have gained 10.4% this year, meaning that RYI is slightly underperforming its industry in terms of year-to-date returns.
In contrast, Gold Resource falls under the Mining - Gold industry. Currently, this industry has 38 stocks and is ranked #161. Since the beginning of the year, the industry has moved +14%.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Ryerson Holding and Gold Resource as they could maintain their solid performance.