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Is ArcelorMittal (MT) Stock Outpacing Its Basic Materials Peers This Year?

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Investors focused on the Basic Materials space have likely heard of ArcelorMittal (MT - 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.

ArcelorMittal 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 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 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. MT is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for MT's full-year earnings has moved 134.09% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, MT has gained about 25.42% so far this year. At the same time, Basic Materials stocks have gained an average of 18.02%. As we can see, ArcelorMittal is performing better than its sector in the calendar year.

Breaking things down more, MT is a member of the Steel - Producers industry, which includes 24 individual companies and currently sits at #3 in the Zacks Industry Rank. Stocks in this group have gained about 34.60% so far this year, so MT is slightly underperforming its industry this group in terms of year-to-date returns.

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


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