Has New Gold (NGD) Outpaced 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 New Gold (NGD) 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.New Gold is a member of the Basic Materials sector. This group includes 232 individual stocks and currently holds a Zacks Sector Rank of #5. 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 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. New Gold is currently sporting a Zacks Rank of #2 (Buy).The Zacks Consensus Estimate for NGD's full-year earnings has moved 61.4% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.Our latest available data shows that NGD has returned about 77.4% since the start of the calendar year. Meanwhile, stocks in the Basic Materials group have gained about 6.6% on average. As we can see, New Gold is performing better than its sector in the calendar year.Another stock in the Basic Materials sector, Centerra Gold Inc. (CGAU), has outperformed the sector so far this year. The stock's year-to-date return is 26%.For Centerra Gold Inc. the consensus EPS estimate for the current year has increased 43.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, New Gold belongs to the Mining - Gold industry, a group that includes 39 individual stocks and currently sits at #17 in the Zacks Industry Rank. On average, stocks in this group have gained 46.5% this year, meaning that NGD is performing better in terms of year-to-date returns. Centerra Gold Inc. is also part of the same industry.Going forward, investors interested in Basic Materials stocks should continue to pay close attention to New Gold and Centerra Gold Inc. 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 New Gold Inc. (NGD): Free Stock Analysis Report Centerra Gold Inc. (CGAU): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
Quelle: Zacks
