Is Contango ORE, Inc. (CTGO) 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 Contango ORE, Inc. (CTGO) 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.Contango ORE, Inc. is a member of the Basic Materials sector. This group includes 238 individual stocks and currently holds a Zacks Sector Rank of #13. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Contango ORE, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).Over the past 90 days, the Zacks Consensus Estimate for CTGO's full-year earnings has moved 176.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.Based on the latest available data, CTGO has gained about 94.4% so far this year. Meanwhile, the Basic Materials sector has returned an average of 10% on a year-to-date basis. This means that Contango ORE, Inc. is performing better than its sector in terms of year-to-date returns.Another stock in the Basic Materials sector, ArcelorMittal (MT), has outperformed the sector so far this year. The stock's year-to-date return is 36.5%.For ArcelorMittal, the consensus EPS estimate for the current year has increased 9.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Breaking things down more, Contango ORE, Inc. is a member of the Mining - Miscellaneous industry, which includes 64 individual companies and currently sits at #165 in the Zacks Industry Rank. This group has gained an average of 12.4% so far this year, so CTGO is performing better in this area. In contrast, ArcelorMittal falls under the Steel - Producers industry. Currently, this industry has 19 stocks and is ranked #85. Since the beginning of the year, the industry has moved +11.5%.Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Contango ORE, Inc. and ArcelorMittal as they could maintain their solid performance.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>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 Contango ORE, Inc. (CTGO): Free Stock Analysis Report ArcelorMittal (MT): 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