The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Barrick Gold (GOLD - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Barrick Gold is a member of our Basic Materials group, which includes 248 different companies and currently sits 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 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. GOLD is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for GOLD's full-year earnings has moved 22.66% 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 34.27% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 3.26%. This shows that Barrick Gold is outperforming its peers so far this year.
To break things down more, GOLD belongs to the Mining - Gold industry, a group that includes 32 individual companies and currently sits at #11 in the Zacks Industry Rank. On average, stocks in this group have gained 43.25% this year, meaning that GOLD is slightly underperforming its industry in terms of year-to-date returns.
GOLD will likely be looking to continue its solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to the company.
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. Has Barrick Gold (GOLD - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Barrick Gold is a member of our Basic Materials group, which includes 248 different companies and currently sits 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 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. GOLD is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for GOLD's full-year earnings has moved 22.66% 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 34.27% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 3.26%. This shows that Barrick Gold is outperforming its peers so far this year.
To break things down more, GOLD belongs to the Mining - Gold industry, a group that includes 32 individual companies and currently sits at #11 in the Zacks Industry Rank. On average, stocks in this group have gained 43.25% this year, meaning that GOLD is slightly underperforming its industry in terms of year-to-date returns.
GOLD will likely be looking to continue its solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to the company.
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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