Yahoo Finance Is Hecla Mining (HL) 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. Is Hecla Mining (HL) 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.
Hecla Mining is one of 240 individual stocks in the Basic Materials sector. Collectively, these companies sit at #6 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 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. Hecla Mining is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for HL's full-year earnings has moved 16.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, HL has moved about 29.5% on a year-to-date basis. Meanwhile, the Basic Materials sector has returned an average of 3% on a year-to-date basis. As we can see, Hecla Mining is performing better than its sector in the calendar year.
Another Basic Materials stock, which has outperformed the sector so far this year, is New Pacific Metals Corp. (NEWP). The stock has returned 27.2% year-to-date.
Over the past three months, New Pacific Metals Corp.'s consensus EPS estimate for the current year has increased 14.3%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Hecla Mining belongs to the Mining - Silver industry, a group that includes 10 individual stocks and currently sits at #19 in the Zacks Industry Rank. On average, this group has gained an average of 38.8% so far this year, meaning that HL is slightly underperforming its industry in terms of year-to-date returns.
New Pacific Metals Corp. however, belongs to the Mining - Miscellaneous industry. Currently, this 60-stock industry is ranked #176. The industry has moved -1.5% so far this year.
Investors with an interest in Basic Materials stocks should continue to track Hecla Mining and New Pacific Metals Corp. These stocks will be looking to continue their solid performance.
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