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Is BHP Group Limited Sponsored (BHP) Outperforming Other Basic Materials Stocks This Year?

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The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has BHP Group Limited Sponsored (BHP - Free Report) been one of those stocks this year? 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.

BHP Group Limited Sponsored is a member of the Basic Materials sector. This group includes 245 individual stocks and currently holds a Zacks Sector Rank of #2. 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 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. BHP is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for BHP's full-year earnings has moved 18.55% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

According to our latest data, BHP has moved about 6.93% on a year-to-date basis. In comparison, Basic Materials companies have returned an average of 13.21%. This means that BHP Group Limited Sponsored is outperforming the sector as a whole this year.

Looking more specifically, BHP belongs to the Mining - Miscellaneous industry, which includes 46 individual stocks and currently sits at #76 in the Zacks Industry Rank. On average, stocks in this group have gained 22.42% this year, meaning that BHP is slightly underperforming its industry in terms of year-to-date returns.

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


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