Is Contango ORE, Inc. (CTGO) Outperforming Other Basic Materials Stocks This Year?

For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Contango ORE, Inc. (CTGO) 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.Contango ORE, Inc. is a member of the Basic Materials sector. This group includes 232 individual stocks and currently holds a Zacks Sector Rank of #15. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.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. Contango ORE, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).The Zacks Consensus Estimate for CTGO's full-year earnings has moved 23.8% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.Our latest available data shows that CTGO has returned about 3.7% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 2.6%. As we can see, Contango ORE, Inc. is performing better than its sector in the calendar year.Givaudan SA (GVDNY) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 2.7%.Over the past three months, Givaudan SA's consensus EPS estimate for the current year has increased 0.5%. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, Contango ORE, Inc. belongs to the Mining - Miscellaneous industry, a group that includes 58 individual stocks and currently sits at #172 in the Zacks Industry Rank. Stocks in this group have lost about 0.7% so far this year, so CTGO is performing better this group in terms of year-to-date returns.In contrast, Givaudan SA falls under the Chemical - Specialty industry. Currently, this industry has 37 stocks and is ranked #154. Since the beginning of the year, the industry has moved +2.3%.Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Contango ORE, Inc. and Givaudan SA as they could maintain their solid performance.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Contango ORE, Inc. (CTGO): Free Stock Analysis Report Givaudan SA (GVDNY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks