Investors focused on the Basic Materials space have likely heard of Harmony Gold Mining Company (HMY), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of HMY and the rest of the Basic Materials group’s stocks.
Harmony Gold Mining Company is a member of the Basic Materials sector. This group includes 236 individual stocks and currently holds a Zacks Sector Rank of #3. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. HMY is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for HMY’s full-year earnings has moved 101.15% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, HMY has gained about 84.30% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 2.34% on average. This means that Harmony Gold Mining Company is outperforming the sector as a whole this year.
Looking more specifically, HMY belongs to the Mining – Gold industry, which includes 31 individual stocks and currently sits at #65 in the Zacks Industry Rank. Stocks in this group have gained about 53.75% so far this year, so HMY is performing better this group in terms of year-to-date returns.
HMY 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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