For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Integra Resources Corp. (ITRG) 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.
Integra Resources Corp. is one of 242 individual stocks in the Basic Materials sector. Collectively, these companies sit at #12 in the Zacks Sector Rank. 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 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. Integra Resources Corp. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ITRG's full-year earnings has moved 65.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that ITRG has returned about 272.5% since the start of the calendar year. In comparison, Basic Materials companies have returned an average of 25.5%. This means that Integra Resources Corp. is performing better than its sector in terms of year-to-date returns.
Another Basic Materials stock, which has outperformed the sector so far this year, is OR Royalties (OR). The stock has returned 124.9% year-to-date.
The consensus estimate for OR Royalties' current year EPS has increased 3.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Integra Resources Corp. belongs to the Mining - Miscellaneous industry, a group that includes 70 individual stocks and currently sits at #94 in the Zacks Industry Rank. This group has gained an average of 29.6% so far this year, so ITRG is performing better in this area. OR Royalties is also part of the same industry.
Integra Resources Corp. and OR Royalties could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
