The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Buenaventura (BVN) been one of those stocks this year? 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.
Buenaventura is a member of our Basic Materials group, which includes 254 different companies and currently sits at #11 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 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. Buenaventura is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for BVN's full-year earnings has moved 30.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, BVN has gained about 15.5% so far this year. In comparison, Basic Materials companies have returned an average of 7.5%. This shows that Buenaventura is outperforming its peers so far this year.
Another stock in the Basic Materials sector, Carpenter Technology (CRS), has outperformed the sector so far this year. The stock's year-to-date return is 26.9%.
In Carpenter Technology's case, the consensus EPS estimate for the current year increased 2.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Buenaventura belongs to the Mining - Silver industry, a group that includes 9 individual stocks and currently sits at #18 in the Zacks Industry Rank. This group has gained an average of 1.9% so far this year, so BVN is performing better in this area.
Carpenter Technology, however, belongs to the Steel - Speciality industry. Currently, this 6-stock industry is ranked #171. The industry has moved +22.4% so far this year.
Investors interested in the Basic Materials sector may want to keep a close eye on Buenaventura and Carpenter Technology as they attempt to continue their solid performance.
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Buenaventura Mining Company Inc. (BVN): Free Stock Analysis Report
Carpenter Technology Corporation (CRS): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).