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Is ArcelorMittal (MT) Outperforming Other Basic Materials Stocks This Year?
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Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is ArcelorMittal (MT - Free Report) one of those stocks right now? 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 251 individual stocks and currently holds a Zacks Sector Rank of #3. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. MT is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for MT's full-year earnings has moved 54.35% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, MT has gained about 58.03% so far this year. Meanwhile, the Basic Materials sector has returned an average of 16.17% on a year-to-date basis. This shows that ArcelorMittal is outperforming its peers so far this year.
Looking more specifically, MT belongs to the Steel - Producers industry, a group that includes 24 individual stocks and currently sits at #12 in the Zacks Industry Rank. On average, stocks in this group have gained 65.11% this year, meaning that MT is slightly underperforming its industry 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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Is ArcelorMittal (MT) Outperforming Other Basic Materials Stocks This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is ArcelorMittal (MT - Free Report) one of those stocks right now? 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 251 individual stocks and currently holds a Zacks Sector Rank of #3. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. MT is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for MT's full-year earnings has moved 54.35% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, MT has gained about 58.03% so far this year. Meanwhile, the Basic Materials sector has returned an average of 16.17% on a year-to-date basis. This shows that ArcelorMittal is outperforming its peers so far this year.
Looking more specifically, MT belongs to the Steel - Producers industry, a group that includes 24 individual stocks and currently sits at #12 in the Zacks Industry Rank. On average, stocks in this group have gained 65.11% this year, meaning that MT is slightly underperforming its industry 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.