Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has Triple Flag Precious Metals (TFPM) been one of those stocks this year? 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.
Triple Flag Precious Metals is one of 239 companies in the Basic Materials group. The Basic Materials group currently sits at #8 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 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. Triple Flag Precious Metals is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for TFPM's full-year earnings has moved 10.6% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, TFPM has gained about 97.5% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 19.4% on average. As we can see, Triple Flag Precious Metals is performing better than its sector in the calendar year.
Another Basic Materials stock, which has outperformed the sector so far this year, is US Gold Corp (USAU). The stock has returned 137.4% year-to-date.
For US Gold Corp, the consensus EPS estimate for the current year has increased 17.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Triple Flag Precious Metals belongs to the Mining - Gold industry, a group that includes 41 individual stocks and currently sits at #46 in the Zacks Industry Rank. US Gold Corp is also part of the same industry.
Triple Flag Precious Metals and US Gold Corp 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.
