Is Buenaventura Mining (BVN) Stock Outpacing Its Basic Materials Peers 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. Is Buenaventura (BVN) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.Buenaventura is a member of the Basic Materials sector. This group includes 241 individual stocks and currently holds a Zacks Sector Rank of #6. 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. Buenaventura is currently sporting a Zacks Rank of #1 (Strong Buy).Within the past quarter, the Zacks Consensus Estimate for BVN's full-year earnings has moved 25.2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.Our latest available data shows that BVN has returned about 122% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 24.2%. This means that Buenaventura is performing better than its sector in terms of year-to-date returns.One other Basic Materials stock that has outperformed the sector so far this year is Contango ORE, Inc. (CTGO). The stock is up 144.5% year-to-date.Over the past three months, Contango ORE, Inc.'s consensus EPS estimate for the current year has increased 186.7%. The stock currently has a Zacks Rank #1 (Strong Buy).Looking more specifically, Buenaventura belongs to the Mining - Silver industry, a group that includes 9 individual stocks and currently sits at #11 in the Zacks Industry Rank. This group has gained an average of 121.7% so far this year, so BVN is performing better in this area. In contrast, Contango ORE, Inc. falls under the Mining - Miscellaneous industry. Currently, this industry has 69 stocks and is ranked #44. Since the beginning of the year, the industry has moved +30.4%.Buenaventura and Contango ORE, Inc. could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.#1 Semiconductor Stock to Buy (Not NVDA)The incredible demand for data is fueling the market's next digital gold rush. As data centers continue to be built and constantly upgraded, the companies that provide the hardware for these behemoths will become the NVIDIAs of tomorrow.One under-the-radar chipmaker is uniquely positioned to take advantage of the next growth stage of this market. It specializes in semiconductor products that titans like NVIDIA don't build. It's just beginning to enter the spotlight, which is exactly where you want to be.See This Stock Now for 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 Buenaventura Mining Company Inc. (BVN): Free Stock Analysis Report Contango ORE, Inc. (CTGO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks