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Is Glencore (GLNCY) Stock Outpacing Its Basic Materials Peers This Year?

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The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Glencore PLC (GLNCY - Free Report) 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.

Glencore PLC is one of 244 individual stocks in the Basic Materials sector. Collectively, these companies sit at #14 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Glencore PLC is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for GLNCY's full-year earnings has moved 11.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

According to our latest data, GLNCY has moved about 12.7% on a year-to-date basis. Meanwhile, the Basic Materials sector has returned an average of -11.4% on a year-to-date basis. This shows that Glencore PLC is outperforming its peers so far this year.

Uranium Energy (UEC - Free Report) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 21.2%.

Over the past three months, Uranium Energy's consensus EPS estimate for the current year has increased 66.7%. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Glencore PLC belongs to the Mining - Miscellaneous industry, a group that includes 50 individual stocks and currently sits at #138 in the Zacks Industry Rank. On average, stocks in this group have lost 8.2% this year, meaning that GLNCY is performing better in terms of year-to-date returns. Uranium Energy is also part of the same industry.

Glencore PLC and Uranium Energy could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.


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