Is Taseko Mines Limited (TGB) 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. Has Taseko Mines (TGB) been one of those stocks this year? 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.Taseko Mines is one of 241 individual stocks in the Basic Materials sector. Collectively, these companies sit at #9 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Taseko Mines is currently sporting a Zacks Rank of #2 (Buy).The Zacks Consensus Estimate for TGB's full-year earnings has moved 28.6% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.According to our latest data, TGB has moved about 108.8% on a year-to-date basis. Meanwhile, the Basic Materials sector has returned an average of 27.1% on a year-to-date basis. This means that Taseko Mines is performing better than its sector in terms of year-to-date returns.Another stock in the Basic Materials sector, NioCorp Developments Ltd. (NB), has outperformed the sector so far this year. The stock's year-to-date return is 435.5%.In NioCorp Developments Ltd.'s case, the consensus EPS estimate for the current year increased 24.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Breaking things down more, Taseko Mines is a member of the Mining - Miscellaneous industry, which includes 69 individual companies and currently sits at #47 in the Zacks Industry Rank. On average, this group has gained an average of 34.6% so far this year, meaning that TGB is performing better in terms of year-to-date returns. NioCorp Developments Ltd. is also part of the same industry.Taseko Mines and NioCorp Developments Ltd. could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Taseko Mines Limited (TGB): Free Stock Analysis Report NioCorp Developments Ltd. (NB): 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