Has Salzgitter (SZGPY) Outpaced 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 Salzgitter AG (SZGPY) 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.Salzgitter AG is a member of our Basic Materials group, which includes 241 different companies and currently sits at #4 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 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. Salzgitter AG is currently sporting a Zacks Rank of #2 (Buy).The Zacks Consensus Estimate for SZGPY's full-year earnings has moved 129% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.Based on the latest available data, SZGPY has gained about 3.6% so far this year. Meanwhile, the Basic Materials sector has returned an average of -1.3% on a year-to-date basis. This shows that Salzgitter AG is outperforming its peers so far this year.Another stock in the Basic Materials sector, Alpha Metallurgical (AMR), has outperformed the sector so far this year. The stock's year-to-date return is 161.7%.The consensus estimate for Alpha Metallurgical's current year EPS has increased 73.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).Looking more specifically, Salzgitter AG belongs to the Steel - Producers industry, which includes 24 individual stocks and currently sits at #19 in the Zacks Industry Rank. This group has gained an average of 8.8% so far this year, so SZGPY is slightly underperforming its industry in this area.On the other hand, Alpha Metallurgical belongs to the Mining - Miscellaneous industry. This 49-stock industry is currently ranked #88. The industry has moved +5% year to date.Investors with an interest in Basic Materials stocks should continue to track Salzgitter AG and Alpha Metallurgical. These stocks will be looking to continue their solid performance.Investor Alert: Legal Marijuana Looking for big gains?Now is the time to get in on a young industry primed to skyrocket from $13.5 billion in 2021 to an expected $70.6 billion by 2028.After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could kick start an even greater bonanza for investors. Zacks Investment Research has recently closed pot stocks that have shot up as high as +147.0%.You’re invited to immediately check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>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 Salzgitter AG (SZGPY): Free Stock Analysis Report Alpha Metallurgical Resources, Inc. (AMR): Free Stock Analysis Report To read this article on Zacks.com click here.
Weiter zum vollständigen Artikel bei "Zacks"