Is Centamin (CELTF) Stock Outpacing Its Basic Materials Peers This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is Centamin (CELTF) 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.
Centamin is a member of our Basic Materials group, which includes 236 different companies and currently sits at #15 in the Zacks Sector Rank. 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Centamin is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, 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 28.6% so far this year. Meanwhile, the Basic Materials sector has returned an average of -2.6% on a year-to-date basis. This means that Centamin is performing better than its sector in terms of year-to-date returns.
Another Basic Materials stock, which has outperformed the sector so far this year, is Eldorado Gold Corporation (EGO). The stock has returned 33% year-to-date.
In Eldorado Gold Corporation's case, the consensus EPS estimate for the current year increased 23.8% 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 #190 in the Zacks Industry Rank. On average, stocks in this group have lost 15.9% this year, meaning that CELTF is performing better in terms of year-to-date returns.
On the other hand, Eldorado Gold Corporation belongs to the Mining - Gold industry. This 37-stock industry is currently ranked #147. The industry has moved +47.2% year to date.
Centamin and Eldorado Gold Corporation 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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Centamin (CELTF) : Free Stock Analysis Report
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