Yahoo Finance Are Basic Materials Stocks Lagging Iamgold (IAG) This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is Iamgold (IAG) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Iamgold is a member of the Basic Materials sector. This group includes 241 individual stocks and currently holds a Zacks Sector Rank of #10. 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 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. Iamgold is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for IAG's full-year earnings has moved 623.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, IAG has gained about 47.8% so far this year. Meanwhile, the Basic Materials sector has returned an average of -4.5% on a year-to-date basis. This means that Iamgold is outperforming the sector as a whole this year.
International Paper (IP) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 19.6%.
The consensus estimate for International Paper's current year EPS has increased 1.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Iamgold belongs to the Mining - Gold industry, a group that includes 40 individual companies and currently sits at #45 in the Zacks Industry Rank. On average, stocks in this group have gained 11.7% this year, meaning that IAG is performing better in terms of year-to-date returns.
International Paper, however, belongs to the Paper and Related Products industry. Currently, this 12-stock industry is ranked #48. The industry has moved +10.5% so far this year.
Investors interested in the Basic Materials sector may want to keep a close eye on Iamgold and International Paper as they attempt to continue their solid performance.
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
Iamgold Corporation (IAG): Free Stock Analysis Report
International Paper Company (IP): Free Stock Analysis Report
