Investors focused on the Basic Materials space have likely heard of B2Gold (BTG - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
B2Gold is one of 236 individual stocks in the Basic Materials sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. BTG is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for BTG's full-year earnings has moved 12.22% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, BTG has gained about 70.82% so far this year. Meanwhile, the Basic Materials sector has returned an average of 2.67% on a year-to-date basis. This shows that B2Gold is outperforming its peers so far this year.
Looking more specifically, BTG belongs to the Mining - Gold industry, a group that includes 31 individual stocks and currently sits at #72 in the Zacks Industry Rank. This group has gained an average of 53.16% so far this year, so BTG is performing better in this area.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to BTG as it looks to continue its solid performance.