The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Newmont (NEM - 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.
Newmont is a member of the Basic Materials sector. This group includes 239 individual stocks and currently holds a Zacks Sector Rank of #4. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. NEM is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for NEM's full-year earnings has moved 12.55% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, NEM has moved about 35.14% on a year-to-date basis. At the same time, Basic Materials stocks have lost an average of 11.18%. This shows that Newmont is outperforming its peers so far this year.
Breaking things down more, NEM is a member of the Mining - Miscellaneous industry, which includes 46 individual companies and currently sits at #23 in the Zacks Industry Rank. Stocks in this group have lost about 6.76% so far this year, so NEM is performing better this group in terms of year-to-date returns.
NEM 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. Is Newmont (NEM - 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.
Newmont is a member of the Basic Materials sector. This group includes 239 individual stocks and currently holds a Zacks Sector Rank of #4. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. NEM is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for NEM's full-year earnings has moved 12.55% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, NEM has moved about 35.14% on a year-to-date basis. At the same time, Basic Materials stocks have lost an average of 11.18%. This shows that Newmont is outperforming its peers so far this year.
Breaking things down more, NEM is a member of the Mining - Miscellaneous industry, which includes 46 individual companies and currently sits at #23 in the Zacks Industry Rank. Stocks in this group have lost about 6.76% so far this year, so NEM is performing better this group in terms of year-to-date returns.
NEM 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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