Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has General Moly been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
General Moly is a member of the Basic Materials sector. This group includes 239 individual stocks and currently holds a Zacks Sector Rank of #6. 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. GMO is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for GMO's full-year earnings has moved 33.33% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that GMO has returned about 34.49% since the start of the calendar year. In comparison, Basic Materials companies have returned an average of -4%. This shows that General Moly is outperforming its peers so far this year.
Breaking things down more, GMO is a member of the Mining - Miscellaneous industry, which includes 46 individual companies and currently sits at #54 in the Zacks Industry Rank. This group has gained an average of 0.38% so far this year, so GMO is performing better in this area.
Investors in the Basic Materials sector will want to keep a close eye on GMO as it attempts to continue its solid performance.