Investors focused on the Basic Materials space have likely heard of Glencore (GLNCY), but is the stock performing well in comparison to the rest of its sector peers? Let’s take a closer look at the stock’s year-to-date performance to find out.
Glencore is one of 251 individual stocks in the Basic Materials sector. Collectively, these companies sit at #8 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. GLNCY is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for GLNCY’s full-year earnings has moved 45.12% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Based on the most recent data, GLNCY has returned 43.12% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 14.92% on average. This means that Glencore is outperforming the sector as a whole this year.
Breaking things down more, GLNCY is a member of the Mining – Miscellaneous industry, which includes 47 individual companies and currently sits at #197 in the Zacks Industry Rank. Stocks in this group have gained about 18.49% so far this year, so GLNCY is performing better this group in terms of year-to-date returns.
GLNCY will likely be looking to continue its solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to the company.
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