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Is Brigham Minerals (MNRL) 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. Has Brigham Minerals (MNRL - Free Report) been one of those stocks this year? 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.

Brigham Minerals is one of 241 companies in the Basic Materials group. The Basic Materials group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

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. Brigham Minerals is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for MNRL's full-year earnings has moved 76.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

According to our latest data, MNRL has moved about 43.1% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have lost about 4.2% on average. This shows that Brigham Minerals is outperforming its peers so far this year.

Olympic Steel (ZEUS - Free Report) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 29.9%.

In Olympic Steel's case, the consensus EPS estimate for the current year increased 110.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

To break things down more, Brigham Minerals belongs to the Mining - Miscellaneous industry, a group that includes 49 individual companies and currently sits at #104 in the Zacks Industry Rank. Stocks in this group have gained about 2.7% so far this year, so MNRL is performing better this group in terms of year-to-date returns.

In contrast, Olympic Steel falls under the Steel - Producers industry. Currently, this industry has 24 stocks and is ranked #31. Since the beginning of the year, the industry has moved +2.5%.

Brigham Minerals and Olympic Steel could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.


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