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Is Barrick Gold (GOLD) Stock Outpacing Its Basic Materials Peers This Year?

Zacks Equity Research

The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Barrick Gold (GOLD) one of those stocks right now? 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.

Barrick Gold is a member of the Basic Materials sector. This group includes 247 individual stocks and currently holds a Zacks Sector Rank of #12. 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 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. GOLD is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for GOLD's full-year earnings has moved 37.14% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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Based on the most recent data, GOLD has returned 33.38% so far this year. Meanwhile, the Basic Materials sector has returned an average of 3.07% on a year-to-date basis. As we can see, Barrick Gold is performing better than its sector in the calendar year.

To break things down more, GOLD belongs to the Mining - Gold industry, a group that includes 35 individual companies and currently sits at #8 in the Zacks Industry Rank. Stocks in this group have gained about 45.53% so far this year, so GOLD 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 GOLD as it attempts to continue its solid performance.


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Zacks Investment Research