Yahoo Finance Are Basic Materials Stocks Lagging Buenaventura Mining (BVN) 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. Is Buenaventura (BVN) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Buenaventura is one of 240 individual stocks in the Basic Materials sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Buenaventura is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for BVN's full-year earnings has moved 11.1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, BVN has gained about 5.1% so far this year. At the same time, Basic Materials stocks have lost an average of 2.6%. As we can see, Buenaventura is performing better than its sector in the calendar year.
One other Basic Materials stock that has outperformed the sector so far this year is Nexa Resources S.A. (NEXA). The stock is up 1.3% year-to-date.
Over the past three months, Nexa Resources S.A.'s consensus EPS estimate for the current year has increased 48%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Buenaventura is a member of the Mining - Silver industry, which includes 10 individual companies and currently sits at #185 in the Zacks Industry Rank. Stocks in this group have gained about 14.7% so far this year, so BVN is slightly underperforming its industry this group in terms of year-to-date returns.
On the other hand, Nexa Resources S.A. belongs to the Mining - Miscellaneous industry. This 60-stock industry is currently ranked #154. The industry has moved -8.5% year to date.
Buenaventura and Nexa Resources S.A. could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.
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Buenaventura Mining Company Inc. (BVN) : Free Stock Analysis Report
Nexa Resources S.A. (NEXA) : Free Stock Analysis Report
