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Is Barrick Gold (GOLD) Outperforming Other Basic Materials Stocks This Year?
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Investors focused on the Basic Materials space have likely heard of Barrick Gold (GOLD - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Barrick Gold is one of 239 individual stocks in the Basic Materials sector. Collectively, these companies sit at #5 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 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. GOLD is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for GOLD's full-year earnings has moved 9.65% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, GOLD has gained about 31.09% so far this year. In comparison, Basic Materials companies have returned an average of -22.24%. This means that Barrick Gold is outperforming the sector as a whole this year.
To break things down more, GOLD belongs to the Mining - Gold industry, a group that includes 30 individual companies and currently sits at #22 in the Zacks Industry Rank. On average, stocks in this group have gained 8.64% this year, meaning that GOLD is performing better in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to GOLD as it looks to continue its solid performance.
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Is Barrick Gold (GOLD) Outperforming Other Basic Materials Stocks This Year?
Investors focused on the Basic Materials space have likely heard of Barrick Gold (GOLD - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Barrick Gold is one of 239 individual stocks in the Basic Materials sector. Collectively, these companies sit at #5 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 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. GOLD is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for GOLD's full-year earnings has moved 9.65% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, GOLD has gained about 31.09% so far this year. In comparison, Basic Materials companies have returned an average of -22.24%. This means that Barrick Gold is outperforming the sector as a whole this year.
To break things down more, GOLD belongs to the Mining - Gold industry, a group that includes 30 individual companies and currently sits at #22 in the Zacks Industry Rank. On average, stocks in this group have gained 8.64% this year, meaning that GOLD is performing better in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to GOLD as it looks to continue its solid performance.