Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Centamin (CELTF) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Centamin is one of 235 companies in the Basic Materials group. The Basic Materials group currently sits at #12 within 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 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. Centamin is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CELTF's full-year earnings has moved 5.3% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CELTF has returned 55.6% so far this year. At the same time, Basic Materials stocks have gained an average of 1.4%. As we can see, Centamin is performing better than its sector in the calendar 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 146.9%.
The consensus estimate for Carpenter Technology's current year EPS has increased 14.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Centamin belongs to the Mining - Miscellaneous industry, which includes 60 individual stocks and currently sits at #170 in the Zacks Industry Rank. On average, stocks in this group have lost 9.1% this year, meaning that CELTF is performing better in terms of year-to-date returns.
On the other hand, Carpenter Technology belongs to the Steel - Speciality industry. This 6-stock industry is currently ranked #93. The industry has moved +48.6% year to date.
Investors with an interest in Basic Materials stocks should continue to track Centamin and Carpenter Technology. These stocks will be looking to continue their solid performance.
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Centamin (CELTF) : Free Stock Analysis Report
Carpenter Technology Corporation (CRS) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
