Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Harmony Gold (HMY) 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.
Harmony Gold is a member of the Basic Materials sector. This group includes 235 individual stocks and currently holds a Zacks Sector Rank of #11. 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. Harmony Gold is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for HMY's full-year earnings has moved 7.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, HMY has returned 76.3% so far this year. Meanwhile, the Basic Materials sector has returned an average of -0.8% on a year-to-date basis. This means that Harmony Gold is performing better than its sector in terms of year-to-date returns.
Another stock in the Basic Materials sector, New Gold (NGD), has outperformed the sector so far this year. The stock's year-to-date return is 88.4%.
Over the past three months, New Gold's consensus EPS estimate for the current year has increased 7.8%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Harmony Gold belongs to the Mining – Gold industry, which includes 38 individual stocks and currently sits at #11 in the Zacks Industry Rank. On average, stocks in this group have gained 25.5% this year, meaning that HMY is performing better in terms of year-to-date returns. New Gold is also part of the same industry.
Investors with an interest in Basic Materials stocks should continue to track Harmony Gold and New Gold. These stocks will be looking to continue their solid performance.
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Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report
New Gold Inc. (NGD) : Free Stock Analysis Report
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