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Has New Gold (NGD) Outpaced Other Basic Materials Stocks This Year?
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The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. New Gold (NGD - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
New Gold is a member of our Basic Materials group, which includes 241 different companies and currently sits at #16 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. New Gold is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for NGD's full-year earnings has moved 140% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that NGD has returned about 34.3% since the start of the calendar year. Meanwhile, the Basic Materials sector has returned an average of -4.3% on a year-to-date basis. This means that New Gold is performing better than its sector in terms of year-to-date returns.
Centerra Gold Inc. (CGAU - Free Report) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 13.9%.
For Centerra Gold Inc. the consensus EPS estimate for the current year has increased 137.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, New Gold belongs to the Mining - Gold industry, which includes 40 individual stocks and currently sits at #77 in the Zacks Industry Rank. This group has gained an average of 7.6% so far this year, so NGD is performing better in this area. Centerra Gold Inc. is also part of the same industry.
Investors interested in the Basic Materials sector may want to keep a close eye on New Gold and Centerra Gold Inc. as they attempt to continue their solid performance.
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Has New Gold (NGD) Outpaced Other Basic Materials Stocks This Year?
The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. New Gold (NGD - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
New Gold is a member of our Basic Materials group, which includes 241 different companies and currently sits at #16 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. New Gold is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for NGD's full-year earnings has moved 140% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that NGD has returned about 34.3% since the start of the calendar year. Meanwhile, the Basic Materials sector has returned an average of -4.3% on a year-to-date basis. This means that New Gold is performing better than its sector in terms of year-to-date returns.
Centerra Gold Inc. (CGAU - Free Report) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 13.9%.
For Centerra Gold Inc. the consensus EPS estimate for the current year has increased 137.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, New Gold belongs to the Mining - Gold industry, which includes 40 individual stocks and currently sits at #77 in the Zacks Industry Rank. This group has gained an average of 7.6% so far this year, so NGD is performing better in this area. Centerra Gold Inc. is also part of the same industry.
Investors interested in the Basic Materials sector may want to keep a close eye on New Gold and Centerra Gold Inc. as they attempt to continue their solid performance.