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Is B2Gold (BTG) Stock Outpacing Its Basic Materials Peers This Year?

Zacks Equity Research

Investors focused on the Basic Materials space have likely heard of B2Gold (BTG), but is the stock performing well in comparison to the rest of its sector peers? 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.

B2Gold is a member of the Basic Materials sector. This group includes 246 individual stocks and currently holds a Zacks Sector Rank of #14. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

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. BTG is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for BTG's full-year earnings has moved 19.29% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

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According to our latest data, BTG has moved about 9.59% on a year-to-date basis. Meanwhile, the Basic Materials sector has returned an average of 5.44% on a year-to-date basis. As we can see, B2Gold is performing better than its sector in the calendar year.

To break things down more, BTG belongs to the Mining - Gold industry, a group that includes 35 individual companies and currently sits at #18 in the Zacks Industry Rank. Stocks in this group have gained about 38.25% so far this year, so BTG is slightly underperforming its industry this group in terms of year-to-date returns.

Investors in the Basic Materials sector will want to keep a close eye on BTG as it attempts to continue its solid performance.


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Zacks Investment Research