Are Basic Materials Stocks Lagging Centerra Gold (CGAU) This Year?
The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Centerra Gold Inc. (CGAU) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.Centerra Gold Inc. is a member of the Basic Materials sector. This group includes 232 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Centerra Gold Inc. is currently sporting a Zacks Rank of #2 (Buy).Over the past 90 days, the Zacks Consensus Estimate for CGAU's full-year earnings has moved 16.1% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.Based on the latest available data, CGAU has gained about 16.7% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 5.5% on average. As we can see, Centerra Gold Inc. is performing better than its sector in the calendar year.New Gold (NGD) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 53.6%.The consensus estimate for New Gold's current year EPS has increased 48.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, Centerra Gold Inc. belongs to the Mining - Gold industry, a group that includes 39 individual stocks and currently sits at #32 in the Zacks Industry Rank. This group has gained an average of 36.6% so far this year, so CGAU is slightly underperforming its industry in this area. New Gold is also part of the same industry.Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Centerra Gold Inc. and New Gold 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 Centerra Gold Inc. (CGAU): Free Stock Analysis Report New Gold Inc. (NGD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
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