Investors focused on the Basic Materials space have likely heard of Hecla Mining (HL - 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.
Hecla Mining is a member of our Basic Materials group, which includes 236 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. HL is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for HL's full-year earnings has moved 2,033.33% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that HL has returned about 60.77% since the start of the calendar year. Meanwhile, stocks in the Basic Materials group have gained about 4.16% on average. This means that Hecla Mining is outperforming the sector as a whole this year.
Breaking things down more, HL is a member of the Mining - Silver industry, which includes 11 individual companies and currently sits at #79 in the Zacks Industry Rank. This group has gained an average of 20.42% so far this year, so HL is performing better in this area.
Investors in the Basic Materials sector will want to keep a close eye on HL as it attempts to continue its solid performance.