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Is Newmont (NEM) Stock Outpacing Its Basic Materials Peers This Year?
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For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Newmont Corporation (NEM - 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? 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.
Newmont Corporation is a member of the Basic Materials sector. This group includes 238 individual stocks and currently holds a Zacks Sector Rank of #16. 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Newmont Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for NEM's full-year earnings has moved 27.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, NEM has gained about 86.3% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 14.6% on average. This shows that Newmont Corporation is outperforming its peers so far this year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Pan American Silver (PAAS - Free Report) . The stock has returned 57% year-to-date.
In Pan American Silver's case, the consensus EPS estimate for the current year increased 26.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Newmont Corporation belongs to the Mining - Gold industry, a group that includes 39 individual stocks and currently sits at #50 in the Zacks Industry Rank. This group has gained an average of 72.5% so far this year, so NEM is performing better in this area.
In contrast, Pan American Silver falls under the Mining - Silver industry. Currently, this industry has 10 stocks and is ranked #11. Since the beginning of the year, the industry has moved +51%.
Investors with an interest in Basic Materials stocks should continue to track Newmont Corporation and Pan American Silver. These stocks will be looking to continue their solid performance.
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Is Newmont (NEM) Stock Outpacing Its Basic Materials Peers This Year?
For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Newmont Corporation (NEM - 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? 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.
Newmont Corporation is a member of the Basic Materials sector. This group includes 238 individual stocks and currently holds a Zacks Sector Rank of #16. 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Newmont Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for NEM's full-year earnings has moved 27.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, NEM has gained about 86.3% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 14.6% on average. This shows that Newmont Corporation is outperforming its peers so far this year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Pan American Silver (PAAS - Free Report) . The stock has returned 57% year-to-date.
In Pan American Silver's case, the consensus EPS estimate for the current year increased 26.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Newmont Corporation belongs to the Mining - Gold industry, a group that includes 39 individual stocks and currently sits at #50 in the Zacks Industry Rank. This group has gained an average of 72.5% so far this year, so NEM is performing better in this area.
In contrast, Pan American Silver falls under the Mining - Silver industry. Currently, this industry has 10 stocks and is ranked #11. Since the beginning of the year, the industry has moved +51%.
Investors with an interest in Basic Materials stocks should continue to track Newmont Corporation and Pan American Silver. These stocks will be looking to continue their solid performance.