Investors focused on the Basic Materials space have likely heard of General Moly , 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.
General Moly is a member of our Basic Materials group, which includes 239 different companies and currently sits at #7 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 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. GMO is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for GMO's full-year earnings has moved 33.33% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that GMO has returned about 2.20% since the start of the calendar year. At the same time, Basic Materials stocks have lost an average of 8.76%. This means that General Moly is outperforming the sector as a whole this year.
To break things down more, GMO belongs to the Mining - Miscellaneous industry, a group that includes 46 individual companies and currently sits at #32 in the Zacks Industry Rank. Stocks in this group have lost about 1.93% so far this year, so GMO is performing better this group in terms of year-to-date returns.
Investors with an interest in Basic Materials stocks should continue to track GMO. The stock will be looking to continue its solid performance.