Yahoo Finance Has Fresnillo (FNLPF) Outpaced Other Basic Materials Stocks This Year?
For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Fresnillo PLC (FNLPF) 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.
Fresnillo PLC is one of 240 individual stocks in the Basic Materials sector. Collectively, these companies sit at #4 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Fresnillo PLC is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for FNLPF's full-year earnings has moved 566.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that FNLPF has returned about 4.8% since the start of the calendar year. Meanwhile, the Basic Materials sector has returned an average of -0.8% on a year-to-date basis. As we can see, Fresnillo PLC is performing better than its sector in the calendar year.
Another stock in the Basic Materials sector, Avino Silver (ASM), has outperformed the sector so far this year. The stock's year-to-date return is 104.2%.
In Avino Silver's case, the consensus EPS estimate for the current year increased 100% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Fresnillo PLC is a member of the Mining - Silver industry, which includes 10 individual companies and currently sits at #29 in the Zacks Industry Rank. On average, this group has gained an average of 34.9% so far this year, meaning that FNLPF is slightly underperforming its industry in terms of year-to-date returns. Avino Silver is also part of the same industry.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Fresnillo PLC and Avino Silver as they could maintain their solid performance.
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