Is Fortuna Mining Corp. (FSM) Outperforming 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. Has Fortuna Mining (FSM) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.Fortuna Mining is one of 232 individual stocks in the Basic Materials sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. 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. Fortuna Mining is currently sporting a Zacks Rank of #2 (Buy).Over the past three months, the Zacks Consensus Estimate for FSM's full-year earnings has moved 4.8% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.Based on the latest available data, FSM has gained about 42% so far this year. At the same time, Basic Materials stocks have gained an average of 2.6%. This shows that Fortuna Mining is outperforming its peers so far this year.Another stock in the Basic Materials sector, Akzo Nobel NV (AKZOY), has outperformed the sector so far this year. The stock's year-to-date return is 4.5%.Over the past three months, Akzo Nobel NV's consensus EPS estimate for the current year has increased 3.2%. The stock currently has a Zacks Rank #1 (Strong Buy).To break things down more, Fortuna Mining belongs to the Mining - Miscellaneous industry, a group that includes 58 individual companies and currently sits at #142 in the Zacks Industry Rank. On average, this group has gained an average of 3.2% so far this year, meaning that FSM is performing better in terms of year-to-date returns.On the other hand, Akzo Nobel NV belongs to the Chemical - Diversified industry. This 28-stock industry is currently ranked #225. The industry has moved -18.7% year to date.Fortuna Mining and Akzo Nobel NV could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.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 Fortuna Mining Corp. (FSM): Free Stock Analysis Report Akzo Nobel NV (AKZOY): 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