Is NioCorp Developments Ltd. (NB) Stock Outpacing Its Basic Materials Peers This Year?

Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. NioCorp Developments Ltd. (NB) 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.NioCorp Developments Ltd. is a member of our Basic Materials group, which includes 232 different companies and currently sits 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 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. NioCorp Developments Ltd. is currently sporting a Zacks Rank of #2 (Buy).The Zacks Consensus Estimate for NB's full-year earnings has moved 15% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.Based on the most recent data, NB has returned 17.7% so far this year. At the same time, Basic Materials stocks have gained an average of 4.3%. This means that NioCorp Developments Ltd. is performing better than its sector in terms of year-to-date returns.Salzgitter AG (SZGPY) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 63.8%.In Salzgitter AG's case, the consensus EPS estimate for the current year increased 325% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, NioCorp Developments Ltd. belongs to the Mining - Miscellaneous industry, a group that includes 59 individual stocks and currently sits at #170 in the Zacks Industry Rank. Stocks in this group have gained about 2.5% so far this year, so NB is performing better this group in terms of year-to-date returns.Salzgitter AG, however, belongs to the Steel - Producers industry. Currently, this 19-stock industry is ranked #222. The industry has moved +13.3% so far this year.NioCorp Developments Ltd. and Salzgitter AG could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.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 +24.3% 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 NioCorp Developments Ltd. (NB): Free Stock Analysis Report Salzgitter AG (SZGPY): 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