Back to top

Image: Bigstock

Is Rio Tinto (RIO) Outperforming Other Basic Materials Stocks This Year?

Read MoreHide Full Article

Investors focused on the Basic Materials space have likely heard of Rio Tinto (RIO - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.

Rio Tinto is a member of the Basic Materials sector. This group includes 240 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. RIO is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for RIO's full-year earnings has moved 64.71% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the most recent data, RIO has returned 8.91% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 8.54% on average. As we can see, Rio Tinto is performing better than its sector in the calendar year.

Looking more specifically, RIO belongs to the Mining - Miscellaneous industry, a group that includes 45 individual stocks and currently sits at #102 in the Zacks Industry Rank. Stocks in this group have gained about 8.61% so far this year, so RIO is performing better this group in terms of year-to-date returns.

Investors with an interest in Basic Materials stocks should continue to track RIO. The stock will be looking to continue its solid performance.


In-Depth Zacks Research for the Tickers Above


Normally $25 each - click below to receive one report FREE:


Rio Tinto PLC (RIO) - free report >>

Published in