Advertisement
Canada markets open in 3 hours 53 minutes

  • S&P/TSX

    21,708.44
    +52.39 (+0.24%)
     

  • S&P 500

    5,011.12
    -11.09 (-0.22%)
     

  • DOW

    37,775.38
    +22.07 (+0.06%)
     

  • CAD/USD

    0.7270
    +0.0007 (+0.10%)
     

  • CRUDE OIL

    83.37
    +0.64 (+0.77%)
     

  • Bitcoin CAD

    89,065.81
    +4,411.65 (+5.21%)
     

  • CMC Crypto 200

    1,334.22
    +21.60 (+1.67%)
     

  • GOLD FUTURES

    2,397.40
    -0.60 (-0.03%)
     

  • RUSSELL 2000

    1,942.96
    -4.99 (-0.26%)
     

  • 10-Yr Bond

    4.6470
    0.0000 (0.00%)
     

  • NASDAQ futures

    17,438.25
    -109.00 (-0.62%)
     

  • VOLATILITY

    19.73
    +1.73 (+9.61%)
     

  • FTSE

    7,823.69
    -53.36 (-0.68%)
     

  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     

  • CAD/EUR

    0.6820
    -0.0001 (-0.01%)
     

Are Basic Materials Stocks Lagging Chemours (CC) This Year?

Zacks Equity Research
·2 min read

The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Chemours (CC) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.

Chemours is one of 242 companies in the Basic Materials group. The Basic Materials group currently sits at #13 within the Zacks Sector Rank. 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. Chemours is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for CC's full-year earnings has moved 11.6% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

ADVERTISEMENT

Based on the latest available data, CC has gained about 4.7% so far this year. Meanwhile, the Basic Materials sector has returned an average of -10.5% on a year-to-date basis. This means that Chemours is outperforming the sector as a whole this year.

One other Basic Materials stock that has outperformed the sector so far this year is Silica Holdings (SLCA). The stock is up 51.2% year-to-date.

The consensus estimate for Silica Holdings' current year EPS has increased 5.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Chemours belongs to the Chemical - Diversified industry, a group that includes 35 individual stocks and currently sits at #171 in the Zacks Industry Rank. This group has lost an average of 11.3% so far this year, so CC is performing better in this area.

On the other hand, Silica Holdings belongs to the Mining - Miscellaneous industry. This 47-stock industry is currently ranked #166. The industry has moved -10.4% year to date.

Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Chemours and Silica Holdings as they could maintain their solid performance.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
The Chemours Company (CC) : Free Stock Analysis Report
 
U.S. Silica Holdings, Inc. (SLCA) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.