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.
Are Basic Materials Stocks Lagging Equinox Gold (EQX) This Year?
Read MoreHide Full Article
For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Equinox Gold (EQX - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
Equinox Gold is one of 254 companies in the Basic Materials group. The Basic Materials group currently sits at #2 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 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. Equinox Gold is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for EQX's full-year earnings has moved 7.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, EQX has gained about 27.1% so far this year. At the same time, Basic Materials stocks have gained an average of 24.4%. As we can see, Equinox Gold is performing better than its sector in the calendar year.
Another stock in the Basic Materials sector, Glencore PLC (GLNCY - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 26.8%.
Over the past three months, Glencore PLC's consensus EPS estimate for the current year has increased 24.7%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Equinox Gold belongs to the Mining - Gold industry, a group that includes 43 individual stocks and currently sits at #53 in the Zacks Industry Rank. Stocks in this group have gained about 28.1% so far this year, so EQX is slightly underperforming its industry this group in terms of year-to-date returns.
In contrast, Glencore PLC falls under the Mining - Miscellaneous industry. Currently, this industry has 73 stocks and is ranked #48. Since the beginning of the year, the industry has moved +26.5%.
Investors interested in the Basic Materials sector may want to keep a close eye on Equinox Gold and Glencore PLC as they attempt to continue 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
Are Basic Materials Stocks Lagging Equinox Gold (EQX) 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. Is Equinox Gold (EQX - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
Equinox Gold is one of 254 companies in the Basic Materials group. The Basic Materials group currently sits at #2 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 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. Equinox Gold is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for EQX's full-year earnings has moved 7.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, EQX has gained about 27.1% so far this year. At the same time, Basic Materials stocks have gained an average of 24.4%. As we can see, Equinox Gold is performing better than its sector in the calendar year.
Another stock in the Basic Materials sector, Glencore PLC (GLNCY - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 26.8%.
Over the past three months, Glencore PLC's consensus EPS estimate for the current year has increased 24.7%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Equinox Gold belongs to the Mining - Gold industry, a group that includes 43 individual stocks and currently sits at #53 in the Zacks Industry Rank. Stocks in this group have gained about 28.1% so far this year, so EQX is slightly underperforming its industry this group in terms of year-to-date returns.
In contrast, Glencore PLC falls under the Mining - Miscellaneous industry. Currently, this industry has 73 stocks and is ranked #48. Since the beginning of the year, the industry has moved +26.5%.
Investors interested in the Basic Materials sector may want to keep a close eye on Equinox Gold and Glencore PLC as they attempt to continue their solid performance.