Are Basic Materials Stocks Lagging Silver Standard Resources (SSRM) This Year?
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The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has SSR Mining (SSRM) 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.SSR Mining is one of 235 individual stocks in the Basic Materials sector. Collectively, these companies sit at #10 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.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. SSR Mining is currently sporting a Zacks Rank of #2 (Buy).Over the past 90 days, the Zacks Consensus Estimate for SSRM's full-year earnings has moved 141.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.Our latest available data shows that SSRM has returned about 13.1% since the start of the calendar year. At the same time, Basic Materials stocks have lost an average of 7.1%. This means that SSR Mining is outperforming the sector as a whole this year.Another stock in the Basic Materials sector, Eldorado Gold Corporation (EGO), has outperformed the sector so far this year. The stock's year-to-date return is 0.9%.The consensus estimate for Eldorado Gold Corporation's current year EPS has increased 5.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, SSR Mining belongs to the Mining - Miscellaneous industry, which includes 60 individual stocks and currently sits at #91 in the Zacks Industry Rank. This group has lost an average of 18.9% so far this year, so SSRM is performing better in this area.In contrast, Eldorado Gold Corporation falls under the Mining - Gold industry. Currently, this industry has 40 stocks and is ranked #87. Since the beginning of the year, the industry has moved +18.7%.Investors with an interest in Basic Materials stocks should continue to track SSR Mining and Eldorado Gold Corporation. These stocks will be looking to continue their solid performance.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>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 Silver Standard Resources Inc. (SSRM): Free Stock Analysis Report Eldorado Gold Corporation (EGO): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
Quelle: Zacks