Is Idaho Strategic Resources (IDR) 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. Idaho Strategic Resources, Inc. (IDR) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.Idaho Strategic Resources, Inc. is one of 232 individual stocks in the Basic Materials sector. Collectively, these companies sit at #14 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. Idaho Strategic Resources, Inc. is currently sporting a Zacks Rank of #2 (Buy).Over the past three months, the Zacks Consensus Estimate for IDR's full-year earnings has moved 1.3% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.Our latest available data shows that IDR has returned about 46.8% since the start of the calendar year. Meanwhile, stocks in the Basic Materials group have lost about 4.8% on average. This means that Idaho Strategic Resources, Inc. is performing better than its sector in terms of year-to-date returns.Another Basic Materials stock, which has outperformed the sector so far this year, is Novozymes A/S (NVZMY). The stock has returned 7.7% year-to-date.In Novozymes A/S's case, the consensus EPS estimate for the current year increased 2.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, Idaho Strategic Resources, Inc. belongs to the Mining - Gold industry, which includes 39 individual stocks and currently sits at #86 in the Zacks Industry Rank. On average, stocks in this group have gained 24.9% this year, meaning that IDR is performing better in terms of year-to-date returns.On the other hand, Novozymes A/S belongs to the Chemical - Specialty industry. This 37-stock industry is currently ranked #142. The industry has moved -3% year to date.Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Idaho Strategic Resources, Inc. and Novozymes A/S as they could maintain their solid performance.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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 Idaho Strategic Resources, Inc. (IDR): Free Stock Analysis Report Novozymes A/S (NVZMY): 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