Is Centamin (CELTF) Outperforming Other Basic Materials Stocks This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has Centamin (CELTF) 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.
Centamin is a member of the Basic Materials sector. This group includes 236 individual stocks and currently holds a Zacks Sector Rank of #14. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Centamin is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CELTF's full-year earnings has moved 58.3% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, CELTF has gained about 27.8% so far this year. Meanwhile, the Basic Materials sector has returned an average of -6.7% on a year-to-date basis. This shows that Centamin is outperforming its peers so far this year.
Franco-Nevada (FNV) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 5.5%.
In Franco-Nevada's case, the consensus EPS estimate for the current year increased 3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Centamin belongs to the Mining - Miscellaneous industry, a group that includes 59 individual companies and currently sits at #152 in the Zacks Industry Rank. On average, stocks in this group have lost 14% this year, meaning that CELTF is performing better in terms of year-to-date returns.
In contrast, Franco-Nevada falls under the Mining - Gold industry. Currently, this industry has 37 stocks and is ranked #80. Since the beginning of the year, the industry has moved +24.3%.
Investors with an interest in Basic Materials stocks should continue to track Centamin and Franco-Nevada. These stocks will be looking to continue their solid performance.
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Centamin (CELTF) : Free Stock Analysis Report
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