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Is Eldorado Gold (EGO) Outperforming Other Basic Materials Stocks This Year?
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Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Eldorado Gold Corporation (EGO - 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? 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.
Eldorado Gold Corporation is a member of our Basic Materials group, which includes 236 different companies and currently sits at #14 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Eldorado Gold Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for EGO's full-year earnings has moved 21% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, EGO has moved about 33.8% on a year-to-date basis. In comparison, Basic Materials companies have returned an average of -5.3%. This shows that Eldorado Gold Corporation is outperforming its peers so far this year.
One other Basic Materials stock that has outperformed the sector so far this year is Barrick Gold (GOLD - Free Report) . The stock is up 5.3% year-to-date.
The consensus estimate for Barrick Gold's current year EPS has increased 19.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Eldorado Gold Corporation belongs to the Mining - Gold industry, which includes 37 individual stocks and currently sits at #83 in the Zacks Industry Rank. On average, stocks in this group have gained 23.1% this year, meaning that EGO is performing better in terms of year-to-date returns. Barrick Gold is also part of the same industry.
Eldorado Gold Corporation and Barrick Gold could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.
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Is Eldorado Gold (EGO) Outperforming Other Basic Materials Stocks This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Eldorado Gold Corporation (EGO - 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? 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.
Eldorado Gold Corporation is a member of our Basic Materials group, which includes 236 different companies and currently sits at #14 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Eldorado Gold Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for EGO's full-year earnings has moved 21% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, EGO has moved about 33.8% on a year-to-date basis. In comparison, Basic Materials companies have returned an average of -5.3%. This shows that Eldorado Gold Corporation is outperforming its peers so far this year.
One other Basic Materials stock that has outperformed the sector so far this year is Barrick Gold (GOLD - Free Report) . The stock is up 5.3% year-to-date.
The consensus estimate for Barrick Gold's current year EPS has increased 19.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Eldorado Gold Corporation belongs to the Mining - Gold industry, which includes 37 individual stocks and currently sits at #83 in the Zacks Industry Rank. On average, stocks in this group have gained 23.1% this year, meaning that EGO is performing better in terms of year-to-date returns. Barrick Gold is also part of the same industry.
Eldorado Gold Corporation and Barrick Gold could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.