Investors focused on the Basic Materials space have likely heard of Fortescue Metals Group (FSUGY - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Fortescue Metals Group is one of 236 individual stocks in the Basic Materials sector. Collectively, these companies sit at #13 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. FSUGY is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for FSUGY's full-year earnings has moved 139.65% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, FSUGY has moved about 69.41% on a year-to-date basis. At the same time, Basic Materials stocks have gained an average of 13.30%. This means that Fortescue Metals Group is outperforming the sector as a whole this year.
Looking more specifically, FSUGY belongs to the Mining - Iron industry, which includes 2 individual stocks and currently sits at #1 in the Zacks Industry Rank. On average, stocks in this group have lost 2.72% this year, meaning that FSUGY is performing better in terms of year-to-date returns.
Investors in the Basic Materials sector will want to keep a close eye on FSUGY as it attempts 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 >>
Investors focused on the Basic Materials space have likely heard of Fortescue Metals Group (FSUGY - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Fortescue Metals Group is one of 236 individual stocks in the Basic Materials sector. Collectively, these companies sit at #13 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. FSUGY is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for FSUGY's full-year earnings has moved 139.65% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, FSUGY has moved about 69.41% on a year-to-date basis. At the same time, Basic Materials stocks have gained an average of 13.30%. This means that Fortescue Metals Group is outperforming the sector as a whole this year.
Looking more specifically, FSUGY belongs to the Mining - Iron industry, which includes 2 individual stocks and currently sits at #1 in the Zacks Industry Rank. On average, stocks in this group have lost 2.72% this year, meaning that FSUGY is performing better in terms of year-to-date returns.
Investors in the Basic Materials sector will want to keep a close eye on FSUGY as it attempts 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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