Investors focused on the Basic Materials space have likely heard of Hecla Mining (HL), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company’s year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
Hecla Mining is a member of our Basic Materials group, which includes 235 different companies and currently sits at #4 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 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. HL is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for HL’s full-year earnings has moved 1,033.33% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.
According to our latest data, HL has moved about 70.21% on a year-to-date basis. In comparison, Basic Materials companies have returned an average of 2.38%. As we can see, Hecla Mining is performing better than its sector in the calendar year.
To break things down more, HL belongs to the Mining – Silver industry, a group that includes 11 individual companies and currently sits at #50 in the Zacks Industry Rank. On average, stocks in this group have gained 23.04% this year, meaning that HL is performing better in terms of year-to-date returns.
Investors with an interest in Basic Materials stocks should continue to track HL. The stock will be looking to continue its solid performance.
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