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Is NexGen Energy (NXE) Stock Outpacing Its Basic Materials Peers This Year?
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Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has NexGen Energy (NXE - Free Report) been one of those stocks this year? 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.
NexGen Energy is a member of our Basic Materials group, which includes 275 different companies and currently sits at #15 in the Zacks Sector Rank. 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 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. NexGen Energy is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for NXE's full-year earnings has moved 72.1% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, NXE has returned 16.9% so far this year. Meanwhile, the Basic Materials sector has returned an average of 16.3% on a year-to-date basis. As we can see, NexGen Energy is performing better than its sector in the calendar year.
Another stock in the Basic Materials sector, Solstice Advanced Materials (SOLS - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 28.8%.
In Solstice Advanced Materials' case, the consensus EPS estimate for the current year increased 9.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, NexGen Energy is a member of the Mining - Miscellaneous industry, which includes 86 individual companies and currently sits at #198 in the Zacks Industry Rank. Stocks in this group have gained about 23.7% so far this year, so NXE is slightly underperforming its industry this group in terms of year-to-date returns.
Solstice Advanced Materials, however, belongs to the Chemical - Specialty industry. Currently, this 46-stock industry is ranked #102. The industry has moved +10% so far this year.
Investors interested in the Basic Materials sector may want to keep a close eye on NexGen Energy and Solstice Advanced Materials as they attempt to continue their solid performance.
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Is NexGen Energy (NXE) Stock Outpacing Its Basic Materials Peers This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has NexGen Energy (NXE - Free Report) been one of those stocks this year? 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.
NexGen Energy is a member of our Basic Materials group, which includes 275 different companies and currently sits at #15 in the Zacks Sector Rank. 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 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. NexGen Energy is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for NXE's full-year earnings has moved 72.1% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, NXE has returned 16.9% so far this year. Meanwhile, the Basic Materials sector has returned an average of 16.3% on a year-to-date basis. As we can see, NexGen Energy is performing better than its sector in the calendar year.
Another stock in the Basic Materials sector, Solstice Advanced Materials (SOLS - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 28.8%.
In Solstice Advanced Materials' case, the consensus EPS estimate for the current year increased 9.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, NexGen Energy is a member of the Mining - Miscellaneous industry, which includes 86 individual companies and currently sits at #198 in the Zacks Industry Rank. Stocks in this group have gained about 23.7% so far this year, so NXE is slightly underperforming its industry this group in terms of year-to-date returns.
Solstice Advanced Materials, however, belongs to the Chemical - Specialty industry. Currently, this 46-stock industry is ranked #102. The industry has moved +10% so far this year.
Investors interested in the Basic Materials sector may want to keep a close eye on NexGen Energy and Solstice Advanced Materials as they attempt to continue their solid performance.