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Has VALE (VALE) Outpaced Other Basic Materials Stocks This Year?
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Investors focused on the Basic Materials space have likely heard of VALE (VALE - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
VALE is a member of our Basic Materials group, which includes 251 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 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. VALE is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for VALE's full-year earnings has moved 29.37% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, VALE has gained about 25.42% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 20.52% on average. This means that VALE is performing better than its sector in terms of year-to-date returns.
Breaking things down more, VALE is a member of the Mining - Iron industry, which includes 2 individual companies and currently sits at #1 in the Zacks Industry Rank. On average, this group has gained an average of 32.46% so far this year, meaning that VALE is slightly underperforming its industry in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to VALE as it looks to continue its solid performance.
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Has VALE (VALE) Outpaced Other Basic Materials Stocks This Year?
Investors focused on the Basic Materials space have likely heard of VALE (VALE - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
VALE is a member of our Basic Materials group, which includes 251 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 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. VALE is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for VALE's full-year earnings has moved 29.37% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, VALE has gained about 25.42% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 20.52% on average. This means that VALE is performing better than its sector in terms of year-to-date returns.
Breaking things down more, VALE is a member of the Mining - Iron industry, which includes 2 individual companies and currently sits at #1 in the Zacks Industry Rank. On average, this group has gained an average of 32.46% so far this year, meaning that VALE is slightly underperforming its industry in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to VALE as it looks to continue its solid performance.