Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has DRDGOLD (DRD – Free Report) 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.
DRDGOLD is one of 232 individual stocks in the Basic Materials sector. Collectively, these companies sit at #15 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 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. DRDGOLD is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for DRD’s full-year earnings has moved 41.3% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
Based on the most recent data, DRD has returned 63.9% so far this year. In comparison, Basic Materials companies have returned an average of 4.8%. This means that DRDGOLD is outperforming the sector as a whole this year.
Another stock in the Basic Materials sector, New Pacific Metals Corp. (NEWP – Free Report) , has outperformed the sector so far this year. The stock’s year-to-date return is 5.9%.
The consensus estimate for New Pacific Metals Corp.’s current year EPS has increased 33.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, DRDGOLD belongs to the Mining – Gold industry, a group that includes 41 individual stocks and currently sits at #159 in the Zacks Industry Rank. This group has gained an average of 27.5% so far this year, so DRD is performing better in this area.
On the other hand, New Pacific Metals Corp. belongs to the Mining – Miscellaneous industry. This 59-stock industry is currently ranked #170. The industry has moved +3.1% year to date.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to DRDGOLD and New Pacific Metals Corp. as they could maintain their solid performance.
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