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 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.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
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.
Has Almonty Industries Inc. (ALM) Outpaced Other Basic Materials Stocks 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. Almonty Industries Inc. (ALM - 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.
Almonty Industries Inc. is a member of our Basic Materials group, which includes 254 different companies and currently sits at #1 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 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. Almonty Industries Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ALM's full-year earnings has moved 37.8% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that ALM has returned about 68.3% since the start of the calendar year. In comparison, Basic Materials companies have returned an average of 19.8%. This means that Almonty Industries Inc. is performing better than its sector in terms of year-to-date returns.
Algoma Steel Group Inc. (ASTL - 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 20%.
The consensus estimate for Algoma Steel Group Inc.'s current year EPS has increased 3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Almonty Industries Inc. belongs to the Mining - Miscellaneous industry, which includes 73 individual stocks and currently sits at #46 in the Zacks Industry Rank. On average, this group has gained an average of 21.3% so far this year, meaning that ALM is performing better in terms of year-to-date returns.
On the other hand, Algoma Steel Group Inc. belongs to the Steel - Producers industry. This 19-stock industry is currently ranked #71. The industry has moved +21.7% year to date.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Almonty Industries Inc. and Algoma Steel Group Inc. as they could maintain their solid performance.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
View the Zacks #1 Rank List
Image: Bigstock
Has Almonty Industries Inc. (ALM) Outpaced Other Basic Materials Stocks This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Almonty Industries Inc. (ALM - 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.
Almonty Industries Inc. is a member of our Basic Materials group, which includes 254 different companies and currently sits at #1 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 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. Almonty Industries Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ALM's full-year earnings has moved 37.8% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that ALM has returned about 68.3% since the start of the calendar year. In comparison, Basic Materials companies have returned an average of 19.8%. This means that Almonty Industries Inc. is performing better than its sector in terms of year-to-date returns.
Algoma Steel Group Inc. (ASTL - 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 20%.
The consensus estimate for Algoma Steel Group Inc.'s current year EPS has increased 3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Almonty Industries Inc. belongs to the Mining - Miscellaneous industry, which includes 73 individual stocks and currently sits at #46 in the Zacks Industry Rank. On average, this group has gained an average of 21.3% so far this year, meaning that ALM is performing better in terms of year-to-date returns.
On the other hand, Algoma Steel Group Inc. belongs to the Steel - Producers industry. This 19-stock industry is currently ranked #71. The industry has moved +21.7% year to date.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Almonty Industries Inc. and Algoma Steel Group Inc. as they could maintain their solid performance.