Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has Idaho Strategic Resources, Inc. (IDR) 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.
Idaho Strategic Resources, Inc. is one of 248 companies in the Basic Materials group. The Basic Materials group currently sits at #12 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 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. Idaho Strategic Resources, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for IDR's full-year earnings has moved 68.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, IDR has gained about 20.7% so far this year. Meanwhile, the Basic Materials sector has returned an average of 18.4% on a year-to-date basis. This means that Idaho Strategic Resources, Inc. is performing better than its sector in terms of year-to-date returns.
One other Basic Materials stock that has outperformed the sector so far this year is Lifezone Metals Limited (LZM). The stock is up 30.4% year-to-date.
For Lifezone Metals Limited, the consensus EPS estimate for the current year has increased 12.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Idaho Strategic Resources, Inc. belongs to the Mining - Gold industry, a group that includes 42 individual stocks and currently sits at #162 in the Zacks Industry Rank. On average, this group has gained an average of 5.9% so far this year, meaning that IDR is performing better in terms of year-to-date returns.
Lifezone Metals Limited, however, belongs to the Mining - Miscellaneous industry. Currently, this 72-stock industry is ranked #192. The industry has moved +28.7% so far this year.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Idaho Strategic Resources, Inc. and Lifezone Metals Limited as they could maintain their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).