We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Are Basic Materials Stocks Lagging Newmont (NEM) This Year?
Read MoreHide Full Article
The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Newmont Corporation (NEM - Free Report) one of those stocks right now? 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.
Newmont Corporation is a member of our Basic Materials group, which includes 238 different companies and currently sits at #8 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Newmont Corporation is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for NEM's full-year earnings has moved 33.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, NEM has moved about 13.6% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have lost about 3.6% on average. This means that Newmont Corporation is outperforming the sector as a whole this year.
SilverCrest Metals Inc. (SILV - 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 39.5%.
Over the past three months, SilverCrest Metals Inc.'s consensus EPS estimate for the current year has increased 36.1%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Newmont Corporation belongs to the Mining - Miscellaneous industry, a group that includes 60 individual companies and currently sits at #160 in the Zacks Industry Rank. On average, stocks in this group have lost 10.4% this year, meaning that NEM is performing better in terms of year-to-date returns. SilverCrest Metals Inc. is also part of the same industry.
Newmont Corporation and SilverCrest Metals Inc. could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Are Basic Materials Stocks Lagging Newmont (NEM) This Year?
The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Newmont Corporation (NEM - Free Report) one of those stocks right now? 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.
Newmont Corporation is a member of our Basic Materials group, which includes 238 different companies and currently sits at #8 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Newmont Corporation is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for NEM's full-year earnings has moved 33.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, NEM has moved about 13.6% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have lost about 3.6% on average. This means that Newmont Corporation is outperforming the sector as a whole this year.
SilverCrest Metals Inc. (SILV - 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 39.5%.
Over the past three months, SilverCrest Metals Inc.'s consensus EPS estimate for the current year has increased 36.1%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Newmont Corporation belongs to the Mining - Miscellaneous industry, a group that includes 60 individual companies and currently sits at #160 in the Zacks Industry Rank. On average, stocks in this group have lost 10.4% this year, meaning that NEM is performing better in terms of year-to-date returns. SilverCrest Metals Inc. is also part of the same industry.
Newmont Corporation and SilverCrest Metals Inc. could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.