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7 Top Stocks that Raked in Over 100% Returns in 1H16
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The first half of 2016 has been quite a bumpy ride for U.S. investors. The year started on a grave note with most of the indices plummeting to dangerous lows as the markets grappled with issues such as the slowdown in China and the plunge in oil prices post the lift-off of sanctions against Iran.
The uncertainty over Federal Reserve’s rate hike policy also affected investors psyche. Although retail sales, industrial production and inflation have shown an uptick, the weak May labor market report extinguished all chances of a rate hike in the first half.
Further, the U.K.’s decision to exit the European Union put the final nail in the coffin, rattling the global stock market. Following the development, global stock markets wiped out $2 trillions of investors wealth in a single day, overshadowing the prior sell-off record of $1.9 trillion in Sep 2008.
Global Investors Still Favor the US
Despite the choppy macroeconomic scenario and lack of visibility over the Fed’s rate hike policy, the U.S. remains a favorable destination for investors. Per the latest Commerce Department report, foreign direct investment (FDI) in the U.S. reached a record $348 billion in 2015.
The record inflow reflects fundamental strength of the U.S. economy, which coupled with a rebound in oil prices and weakening dollar helped the stocks markets make a fast comeback post Brexit. We note that on a year-to-date basis, the S&P 500 is up 2.69%, while Dow Jones Industrial Average (DJI) has posted a return of almost 2.9%.
The rebound instils confidence among equity investors while our VGM Score tool helps pick stocks with a solid potential.
Stocks with a VGM Score of ‘A’ or ‘B’ and a Zacks Rank #1 (Strong Buy) or 2 (Buy) promise better returns, on an average, than the individual components, as it considers three times as many items that are correlated to future stock returns.
In addition to a solid Zacks Rank and VGM score, we have picked stocks that have garnered more than 100% returns in the last six months.
Our Picks
Headquartered in Chicago, Ryerson Holding Corporation (RYI - Free Report) is a services company that processes and distributes metals. The company posted a positive earnings surprise of 118.19% on an average over the last four quarters. The stock has seen its current year earnings estimates trend up by 6.4% over the last 30 days to $1.16.
Zacks Rank #1
VGM Score ‘A’
% Price Change (YTD) – 253.75
Hamilton, Bermuda-based North Atlantic Drilling Limited offers harsh environment offshore drilling services to the oil and gas industry. Notably, the company’s results compared favorably with the Zacks Consensus Estimate in the last four quarters, with an average beat of 80.90%.
Zacks Rank #1
VGM Score ‘A’
% Price Change (YTD) – 176.02
Vancouver, Canada-based B2Gold Corp. (BTG - Free Report) engages in the acquisition, exploration, and development of gold assets in Nicaragua, the Philippines, Namibia, Mali, Colombia, Burkina Faso, Finland and Chile.
Zacks Rank #1
VGM Score ‘A’
% Price Change (YTD) – 143.14
Headquartered in Atlanta, GA, Axiall Corporation manufactures and markets two integrated chemical product lines: chlorovinyls and aromatics. The company posted a positive earnings surprise of 174.80%, on an average, over the last four quarters. The stock has seen its current year earnings estimates trend up by a massive 300% over the last 30 days to 0.04 cents.
Zacks Rank #1
VGM Score ‘B’
% Price Change (YTD) – 110.91
Olympic Steel Inc. (ZEUS - Free Report) processes and distributes flat-rolled carbon, stainless and tubular steel products. The company has its headquarters in Bedford Heights, OH. Olympic Steel outperformed the Zacks Consensus Estimate by an average of 14.42% over the last four quarters. The stock has witnessed a strong 39.7% upward revision in earnings estimates to 88 cents per share for its current year, over the last 30 days.
Zacks Rank #2
VGM Score ‘A’
% Price Change (YTD) – 129.79
Headquartered in Hillpointe Drive, Rice Energy Inc. is engaged in the acquisition, exploration and development of natural gas and oil properties, primarily in the Appalachian Basin. The company has posted a positive earnings surprise of 194.44%, on an average, over the last four quarters.
Zacks Rank #2
VGM Score ‘B’
% Price Change (YTD) – 106.42
Pittsburgh, PA-based United States Steel Corp. (X - Free Report) is a leading steel manufacturer in the U.S. and the fifth largest in the world. It produces and sells steel mill goods like flat-rolled and tubular products in North America and Europe.
Zacks Rank #2
VGM Score ‘B’
% Price Change (YTD) – 100.13
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7 Top Stocks that Raked in Over 100% Returns in 1H16
The first half of 2016 has been quite a bumpy ride for U.S. investors. The year started on a grave note with most of the indices plummeting to dangerous lows as the markets grappled with issues such as the slowdown in China and the plunge in oil prices post the lift-off of sanctions against Iran.
The uncertainty over Federal Reserve’s rate hike policy also affected investors psyche. Although retail sales, industrial production and inflation have shown an uptick, the weak May labor market report extinguished all chances of a rate hike in the first half.
Further, the U.K.’s decision to exit the European Union put the final nail in the coffin, rattling the global stock market. Following the development, global stock markets wiped out $2 trillions of investors wealth in a single day, overshadowing the prior sell-off record of $1.9 trillion in Sep 2008.
Global Investors Still Favor the US
Despite the choppy macroeconomic scenario and lack of visibility over the Fed’s rate hike policy, the U.S. remains a favorable destination for investors. Per the latest Commerce Department report, foreign direct investment (FDI) in the U.S. reached a record $348 billion in 2015.
The record inflow reflects fundamental strength of the U.S. economy, which coupled with a rebound in oil prices and weakening dollar helped the stocks markets make a fast comeback post Brexit. We note that on a year-to-date basis, the S&P 500 is up 2.69%, while Dow Jones Industrial Average (DJI) has posted a return of almost 2.9%.
The rebound instils confidence among equity investors while our VGM Score tool helps pick stocks with a solid potential.
Stocks with a VGM Score of ‘A’ or ‘B’ and a Zacks Rank #1 (Strong Buy) or 2 (Buy) promise better returns, on an average, than the individual components, as it considers three times as many items that are correlated to future stock returns.
In addition to a solid Zacks Rank and VGM score, we have picked stocks that have garnered more than 100% returns in the last six months.
Our Picks
Headquartered in Chicago, Ryerson Holding Corporation (RYI - Free Report) is a services company that processes and distributes metals. The company posted a positive earnings surprise of 118.19% on an average over the last four quarters. The stock has seen its current year earnings estimates trend up by 6.4% over the last 30 days to $1.16.
Hamilton, Bermuda-based North Atlantic Drilling Limited offers harsh environment offshore drilling services to the oil and gas industry. Notably, the company’s results compared favorably with the Zacks Consensus Estimate in the last four quarters, with an average beat of 80.90%.
Vancouver, Canada-based B2Gold Corp. (BTG - Free Report) engages in the acquisition, exploration, and development of gold assets in Nicaragua, the Philippines, Namibia, Mali, Colombia, Burkina Faso, Finland and Chile.
Headquartered in Atlanta, GA, Axiall Corporation manufactures and markets two integrated chemical product lines: chlorovinyls and aromatics. The company posted a positive earnings surprise of 174.80%, on an average, over the last four quarters. The stock has seen its current year earnings estimates trend up by a massive 300% over the last 30 days to 0.04 cents.
Olympic Steel Inc. (ZEUS - Free Report) processes and distributes flat-rolled carbon, stainless and tubular steel products. The company has its headquarters in Bedford Heights, OH. Olympic Steel outperformed the Zacks Consensus Estimate by an average of 14.42% over the last four quarters. The stock has witnessed a strong 39.7% upward revision in earnings estimates to 88 cents per share for its current year, over the last 30 days.
Headquartered in Hillpointe Drive, Rice Energy Inc. is engaged in the acquisition, exploration and development of natural gas and oil properties, primarily in the Appalachian Basin. The company has posted a positive earnings surprise of 194.44%, on an average, over the last four quarters.
Pittsburgh, PA-based United States Steel Corp. (X - Free Report) is a leading steel manufacturer in the U.S. and the fifth largest in the world. It produces and sells steel mill goods like flat-rolled and tubular products in North America and Europe.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>