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Has Nexa Resources (NEXA) Outpaced Other Basic Materials Stocks This Year?
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Investors focused on the Basic Materials space have likely heard of Nexa Resources (NEXA - 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.
Nexa Resources is a member of the Basic Materials sector. This group includes 252 individual stocks and currently holds a Zacks Sector Rank of #15. 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. NEXA is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for NEXA's full-year earnings has moved 24.65% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that NEXA has returned about 12.97% since the start of the calendar year. In comparison, Basic Materials companies have returned an average of 10.46%. This means that Nexa Resources is outperforming the sector as a whole this year.
To break things down more, NEXA belongs to the Mining - Miscellaneous industry, a group that includes 51 individual companies and currently sits at #189 in the Zacks Industry Rank. On average, this group has gained an average of 6.12% so far this year, meaning that NEXA is performing better in terms of year-to-date returns.
Investors in the Basic Materials sector will want to keep a close eye on NEXA as it attempts to continue its solid performance.
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Has Nexa Resources (NEXA) Outpaced Other Basic Materials Stocks This Year?
Investors focused on the Basic Materials space have likely heard of Nexa Resources (NEXA - 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.
Nexa Resources is a member of the Basic Materials sector. This group includes 252 individual stocks and currently holds a Zacks Sector Rank of #15. 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. NEXA is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for NEXA's full-year earnings has moved 24.65% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that NEXA has returned about 12.97% since the start of the calendar year. In comparison, Basic Materials companies have returned an average of 10.46%. This means that Nexa Resources is outperforming the sector as a whole this year.
To break things down more, NEXA belongs to the Mining - Miscellaneous industry, a group that includes 51 individual companies and currently sits at #189 in the Zacks Industry Rank. On average, this group has gained an average of 6.12% so far this year, meaning that NEXA is performing better in terms of year-to-date returns.
Investors in the Basic Materials sector will want to keep a close eye on NEXA as it attempts to continue its solid performance.