Is Orla Mining (ORLA) 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. Is Orla Mining Ltd. (ORLA) one of those stocks right now? 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.Orla Mining Ltd. is a member of the Basic Materials sector. This group includes 232 individual stocks and currently holds a Zacks Sector Rank of #4. 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. Orla Mining Ltd. is currently sporting a Zacks Rank of #2 (Buy).Over the past 90 days, the Zacks Consensus Estimate for ORLA's full-year earnings has moved 56.3% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.Our latest available data shows that ORLA has returned about 88.5% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 6.5%. As we can see, Orla Mining Ltd. is performing better than its sector in the calendar year.Another stock in the Basic Materials sector, Royal Gold (RGLD), has outperformed the sector so far this year. The stock's year-to-date return is 37%.For Royal Gold, the consensus EPS estimate for the current year has increased 14.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).Breaking things down more, Orla Mining Ltd. is a member of the Mining - Gold industry, which includes 39 individual companies and currently sits at #13 in the Zacks Industry Rank. On average, this group has gained an average of 47.5% so far this year, meaning that ORLA is performing better in terms of year-to-date returns. Royal Gold is also part of the same industry.Orla Mining Ltd. and Royal Gold 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 Orla Mining Ltd. (ORLA): Free Stock Analysis Report Royal Gold, Inc. (RGLD): 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