We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. By pressing "Accept All" or closing out of this banner, you accept our Privacy Policy and Terms of Service, revised from time to time, and you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties. You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Are Basic Materials Stocks Lagging Eldorado Gold (EGO) This Year?
Read MoreHide Full Article
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Eldorado Gold Corporation (EGO - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Eldorado Gold Corporation is one of 233 companies in the Basic Materials group. The Basic Materials group currently sits at #14 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 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. Eldorado Gold Corporation is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for EGO's full-year earnings has moved 4.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that EGO has returned about 22.4% since the start of the calendar year. Meanwhile, the Basic Materials sector has returned an average of -2.5% on a year-to-date basis. This means that Eldorado Gold Corporation is outperforming the sector as a whole this year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Kinross Gold (KGC - Free Report) . The stock has returned 62% year-to-date.
The consensus estimate for Kinross Gold's current year EPS has increased 17.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Eldorado Gold Corporation belongs to the Mining - Gold industry, a group that includes 38 individual companies and currently sits at #63 in the Zacks Industry Rank. This group has gained an average of 16.5% so far this year, so EGO is performing better in this area. Kinross Gold is also part of the same industry.
Eldorado Gold Corporation and Kinross Gold could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Are Basic Materials Stocks Lagging Eldorado Gold (EGO) This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Eldorado Gold Corporation (EGO - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Eldorado Gold Corporation is one of 233 companies in the Basic Materials group. The Basic Materials group currently sits at #14 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 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. Eldorado Gold Corporation is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for EGO's full-year earnings has moved 4.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that EGO has returned about 22.4% since the start of the calendar year. Meanwhile, the Basic Materials sector has returned an average of -2.5% on a year-to-date basis. This means that Eldorado Gold Corporation is outperforming the sector as a whole this year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Kinross Gold (KGC - Free Report) . The stock has returned 62% year-to-date.
The consensus estimate for Kinross Gold's current year EPS has increased 17.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Eldorado Gold Corporation belongs to the Mining - Gold industry, a group that includes 38 individual companies and currently sits at #63 in the Zacks Industry Rank. This group has gained an average of 16.5% so far this year, so EGO is performing better in this area. Kinross Gold is also part of the same industry.
Eldorado Gold Corporation and Kinross Gold could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.