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Has NioCorp Developments Ltd. (NB) Outpaced Other Basic Materials Stocks 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. NioCorp Developments Ltd. (NB - 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.
NioCorp Developments Ltd. is one of 248 individual stocks in the Basic Materials sector. Collectively, these companies sit at #14 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. NioCorp Developments Ltd. is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for NB's full-year earnings has moved 16.9% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, NB has moved about 20.8% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have gained about 19.9% on average. This means that NioCorp Developments Ltd. is performing better than its sector in terms of year-to-date returns.
One other Basic Materials stock that has outperformed the sector so far this year is Silvercorp (SVM - Free Report) . The stock is up 49.2% year-to-date.
Over the past three months, Silvercorp's consensus EPS estimate for the current year has increased 46.8%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, NioCorp Developments Ltd. belongs to the Mining - Miscellaneous industry, a group that includes 72 individual companies and currently sits at #145 in the Zacks Industry Rank. On average, stocks in this group have gained 25.5% this year, meaning that NB is slightly underperforming its industry in terms of year-to-date returns. Silvercorp is also part of the same industry.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to NioCorp Developments Ltd. and Silvercorp as they could maintain their solid performance.
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Has NioCorp Developments Ltd. (NB) Outpaced Other Basic Materials Stocks 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. NioCorp Developments Ltd. (NB - 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.
NioCorp Developments Ltd. is one of 248 individual stocks in the Basic Materials sector. Collectively, these companies sit at #14 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. NioCorp Developments Ltd. is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for NB's full-year earnings has moved 16.9% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, NB has moved about 20.8% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have gained about 19.9% on average. This means that NioCorp Developments Ltd. is performing better than its sector in terms of year-to-date returns.
One other Basic Materials stock that has outperformed the sector so far this year is Silvercorp (SVM - Free Report) . The stock is up 49.2% year-to-date.
Over the past three months, Silvercorp's consensus EPS estimate for the current year has increased 46.8%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, NioCorp Developments Ltd. belongs to the Mining - Miscellaneous industry, a group that includes 72 individual companies and currently sits at #145 in the Zacks Industry Rank. On average, stocks in this group have gained 25.5% this year, meaning that NB is slightly underperforming its industry in terms of year-to-date returns. Silvercorp is also part of the same industry.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to NioCorp Developments Ltd. and Silvercorp as they could maintain their solid performance.