The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Barrick Gold (GOLD - 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.
Barrick Gold is a member of the Basic Materials sector. This group includes 237 individual stocks and currently holds a Zacks Sector Rank of #4. 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. GOLD is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for GOLD's full-year earnings has moved 16.10% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that GOLD has returned about 45.72% since the start of the calendar year. Meanwhile, stocks in the Basic Materials group have gained about 3.03% on average. This means that Barrick Gold is performing better than its sector in terms of year-to-date returns.
Looking more specifically, GOLD belongs to the Mining - Gold industry, a group that includes 33 individual stocks and currently sits at #162 in the Zacks Industry Rank. On average, this group has gained an average of 37.10% so far this year, meaning that GOLD is performing better in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to GOLD as it looks to continue its solid performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Barrick Gold (GOLD - 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.
Barrick Gold is a member of the Basic Materials sector. This group includes 237 individual stocks and currently holds a Zacks Sector Rank of #4. 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. GOLD is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for GOLD's full-year earnings has moved 16.10% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that GOLD has returned about 45.72% since the start of the calendar year. Meanwhile, stocks in the Basic Materials group have gained about 3.03% on average. This means that Barrick Gold is performing better than its sector in terms of year-to-date returns.
Looking more specifically, GOLD belongs to the Mining - Gold industry, a group that includes 33 individual stocks and currently sits at #162 in the Zacks Industry Rank. On average, this group has gained an average of 37.10% so far this year, meaning that GOLD is performing better in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to GOLD as it looks to continue its solid performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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