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Has Harmony Gold Mining Company (HMY) Outpaced Other Basic Materials Stocks This Year?

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Investors focused on the Basic Materials space have likely heard of Harmony Gold Mining Company (HMY - 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.

Harmony Gold Mining Company is a member of the Basic Materials sector. This group includes 236 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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. HMY is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for HMY's full-year earnings has moved 71.57% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Our latest available data shows that HMY has returned about 42.70% since the start of the calendar year. Meanwhile, stocks in the Basic Materials group have gained about 0.44% on average. This shows that Harmony Gold Mining Company is outperforming its peers so far this year.

Looking more specifically, HMY belongs to the Mining - Gold industry, a group that includes 32 individual stocks and currently sits at #74 in the Zacks Industry Rank. This group has gained an average of 38.05% so far this year, so HMY is performing better in this area.

Investors in the Basic Materials sector will want to keep a close eye on HMY as it attempts to continue its solid performance.


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