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Is New Gold (NGD) Stock Outpacing Its Basic Materials Peers This Year?
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The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. New Gold (NGD - 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.
New Gold is a member of our Basic Materials group, which includes 238 different companies and currently sits at #16 in 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 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. New Gold is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for NGD's full-year earnings has moved 17.2% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that NGD has returned about 129.4% since the start of the calendar year. In comparison, Basic Materials companies have returned an average of 17.6%. This means that New Gold is performing better than its sector in terms of year-to-date returns.
Posco (PKX - 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 23.4%.
For Posco, the consensus EPS estimate for the current year has increased 2.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, New Gold is a member of the Mining - Gold industry, which includes 39 individual companies and currently sits at #80 in the Zacks Industry Rank. This group has gained an average of 81.7% so far this year, so NGD is performing better in this area.
Posco, however, belongs to the Steel - Producers industry. Currently, this 19-stock industry is ranked #203. The industry has moved +23.6% so far this year.
Investors with an interest in Basic Materials stocks should continue to track New Gold and Posco. These stocks will be looking to continue their solid performance.
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Is New Gold (NGD) Stock Outpacing Its Basic Materials Peers This Year?
The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. New Gold (NGD - 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.
New Gold is a member of our Basic Materials group, which includes 238 different companies and currently sits at #16 in 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 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. New Gold is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for NGD's full-year earnings has moved 17.2% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that NGD has returned about 129.4% since the start of the calendar year. In comparison, Basic Materials companies have returned an average of 17.6%. This means that New Gold is performing better than its sector in terms of year-to-date returns.
Posco (PKX - 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 23.4%.
For Posco, the consensus EPS estimate for the current year has increased 2.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, New Gold is a member of the Mining - Gold industry, which includes 39 individual companies and currently sits at #80 in the Zacks Industry Rank. This group has gained an average of 81.7% so far this year, so NGD is performing better in this area.
Posco, however, belongs to the Steel - Producers industry. Currently, this 19-stock industry is ranked #203. The industry has moved +23.6% so far this year.
Investors with an interest in Basic Materials stocks should continue to track New Gold and Posco. These stocks will be looking to continue their solid performance.