The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Hecla Mining (HL) one of those stocks right now? 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.
Hecla Mining is one of 235 companies in the Basic Materials group. The Basic Materials group currently sits at #7 within 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader 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 350% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
According to our latest data, HL has moved about 50.15% on a year-to-date basis. At the same time, Basic Materials stocks have gained an average of 3.92%. This shows that Hecla Mining is outperforming its peers so far this year.
Looking more specifically, HL belongs to the Mining – Silver industry, a group that includes 11 individual stocks and currently sits at #105 in the Zacks Industry Rank. On average, this group has gained an average of 16.96% so far this year, meaning that HL is performing better in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to HL as it looks to continue its solid performance.
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