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The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has SSR Mining (SSRM) been one of those stocks this year? 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.
SSR Mining is one of 235 individual stocks in the Basic Materials sector. Collectively, these companies sit at #10 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 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. SSR Mining is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for SSRM's full-year earnings has moved 141.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that SSRM has returned about 13.1% since the start of the calendar year. At the same time, Basic Materials stocks have lost an average of 7.1%. This means that SSR Mining is outperforming the sector as a whole this year.
Another stock in the Basic Materials sector, Eldorado Gold Corporation (EGO), has outperformed the sector so far this year. The stock's year-to-date return is 0.9%.
The consensus estimate for Eldorado Gold Corporation's current year EPS has increased 5.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, SSR Mining belongs to the Mining - Miscellaneous industry, which includes 60 individual stocks and currently sits at #91 in the Zacks Industry Rank. This group has lost an average of 18.9% so far this year, so SSRM is performing better in this area.
In contrast, Eldorado Gold Corporation falls under the Mining - Gold industry. Currently, this industry has 40 stocks and is ranked #87. Since the beginning of the year, the industry has moved +18.7%.
Investors with an interest in Basic Materials stocks should continue to track SSR Mining and Eldorado Gold Corporation. These stocks will be looking to continue their solid performance.
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Silver Standard Resources Inc. (SSRM) : Free Stock Analysis Report