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Is Rio Tinto (RIO) 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. Has Rio Tinto (RIO - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Rio Tinto is a member of the Basic Materials sector. This group includes 248 individual stocks and currently holds a Zacks Sector Rank of #14. 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 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. RIO is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for RIO's full-year earnings has moved 9.40% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, RIO has moved about 30.59% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have gained about 15.02% on average. As we can see, Rio Tinto is performing better than its sector in the calendar year.
Breaking things down more, RIO is a member of the Mining - Miscellaneous industry, which includes 42 individual companies and currently sits at #93 in the Zacks Industry Rank. On average, this group has gained an average of 25.38% so far this year, meaning that RIO is performing better in terms of year-to-date returns.
Investors in the Basic Materials sector will want to keep a close eye on RIO as it attempts to continue its solid performance.
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Is Rio Tinto (RIO) 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. Has Rio Tinto (RIO - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Rio Tinto is a member of the Basic Materials sector. This group includes 248 individual stocks and currently holds a Zacks Sector Rank of #14. 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 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. RIO is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for RIO's full-year earnings has moved 9.40% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, RIO has moved about 30.59% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have gained about 15.02% on average. As we can see, Rio Tinto is performing better than its sector in the calendar year.
Breaking things down more, RIO is a member of the Mining - Miscellaneous industry, which includes 42 individual companies and currently sits at #93 in the Zacks Industry Rank. On average, this group has gained an average of 25.38% so far this year, meaning that RIO is performing better in terms of year-to-date returns.
Investors in the Basic Materials sector will want to keep a close eye on RIO as it attempts to continue its solid performance.