Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is Almonty Industries Inc. (ALM) 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.
Almonty Industries Inc. is one of 275 companies in the Basic Materials group. The Basic Materials group currently sits at #13 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Almonty Industries Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ALM's full-year earnings has moved 2.2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, ALM has returned 70.4% so far this year. In comparison, Basic Materials companies have returned an average of 5.6%. As we can see, Almonty Industries Inc. is performing better than its sector in the calendar year.
Kronos Worldwide (KRO) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 46.2%.
Over the past three months, Kronos Worldwide's consensus EPS estimate for the current year has increased 0.3%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Almonty Industries Inc. belongs to the Mining - Miscellaneous industry, which includes 85 individual stocks and currently sits at #198 in the Zacks Industry Rank. Stocks in this group have gained about 10% so far this year, so ALM is performing better this group in terms of year-to-date returns.
In contrast, Kronos Worldwide falls under the Chemical - Diversified industry. Currently, this industry has 31 stocks and is ranked #166. Since the beginning of the year, the industry has moved +18.2%.
Investors interested in the Basic Materials sector may want to keep a close eye on Almonty Industries Inc. and Kronos Worldwide as they attempt to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).