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Is Nexa Resources (NEXA) 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 Nexa Resources S.A. (NEXA - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Nexa Resources S.A. is one of 238 companies in the Basic Materials group. The Basic Materials group currently sits at #7 within the Zacks Sector Rank. 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. Nexa Resources S.A. is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for NEXA's full-year earnings has moved 63% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Our latest available data shows that NEXA has returned about 22.7% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 5.5%. This shows that Nexa Resources S.A. is outperforming its peers so far this year.

Another Basic Materials stock, which has outperformed the sector so far this year, is Steel Dynamics (STLD - Free Report) . The stock has returned 13% year-to-date.

The consensus estimate for Steel Dynamics' current year EPS has increased 19.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

To break things down more, Nexa Resources S.A. belongs to the Mining - Miscellaneous industry, a group that includes 49 individual companies and currently sits at #74 in the Zacks Industry Rank. On average, this group has gained an average of 13.6% so far this year, meaning that NEXA is performing better in terms of year-to-date returns.

On the other hand, Steel Dynamics belongs to the Steel - Producers industry. This 22-stock industry is currently ranked #27. The industry has moved +16.9% year to date.

Investors with an interest in Basic Materials stocks should continue to track Nexa Resources S.A. and Steel Dynamics. These stocks will be looking to continue their solid performance.

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