Is Fresnillo (FNLPF) 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 Fresnillo PLC (FNLPF) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.

Fresnillo PLC is one of 238 individual stocks in the Basic Materials sector. Collectively, these companies sit at #16 in the Zacks Sector Rank. 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Fresnillo PLC is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for FNLPF's full-year earnings has moved 5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, FNLPF has gained about 228.9% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 18.1% on average. As we can see, Fresnillo PLC 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 GoldMining Inc. (GLDG). The stock is up 23.3% year-to-date.

For GoldMining Inc., the consensus EPS estimate for the current year has increased 15.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Fresnillo PLC is a member of the Mining - Silver industry, which includes 10 individual companies and currently sits at #28 in the Zacks Industry Rank. Stocks in this group have gained about 66% so far this year, so FNLPF is performing better this group in terms of year-to-date returns.

On the other hand, GoldMining Inc. belongs to the Mining - Gold industry. This 39-stock industry is currently ranked #179. The industry has moved +89.6% year to date.

Investors with an interest in Basic Materials stocks should continue to track Fresnillo PLC and GoldMining Inc.. These stocks will be looking to continue their solid performance.

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This article originally published on Zacks Investment Research (zacks.com).

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