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Is BHP Group (BHP) Stock Outpacing Its Basic Materials Peers This Year?
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Investors focused on the Basic Materials space have likely heard of BHP Group (BHP - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of BHP and the rest of the Basic Materials group's stocks.
BHP Group 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 considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. BHP is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for BHP's full-year earnings has moved 27.20% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, BHP has gained about 9.89% so far this year. In comparison, Basic Materials companies have returned an average of 0.10%. This means that BHP Group is outperforming the sector as a whole this year.
To break things down more, BHP belongs to the Mining - Miscellaneous industry, a group that includes 45 individual companies and currently sits at #125 in the Zacks Industry Rank. On average, stocks in this group have gained 2.32% this year, meaning that BHP is performing better in terms of year-to-date returns.
Investors in the Basic Materials sector will want to keep a close eye on BHP as it attempts to continue its solid performance.
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Is BHP Group (BHP) Stock Outpacing Its Basic Materials Peers This Year?
Investors focused on the Basic Materials space have likely heard of BHP Group (BHP - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of BHP and the rest of the Basic Materials group's stocks.
BHP Group 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 considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. BHP is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for BHP's full-year earnings has moved 27.20% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, BHP has gained about 9.89% so far this year. In comparison, Basic Materials companies have returned an average of 0.10%. This means that BHP Group is outperforming the sector as a whole this year.
To break things down more, BHP belongs to the Mining - Miscellaneous industry, a group that includes 45 individual companies and currently sits at #125 in the Zacks Industry Rank. On average, stocks in this group have gained 2.32% this year, meaning that BHP is performing better in terms of year-to-date returns.
Investors in the Basic Materials sector will want to keep a close eye on BHP as it attempts to continue its solid performance.