For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Coeur Mining (CDE) one of those stocks right now? 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.
Coeur Mining is one of 241 individual stocks in the Basic Materials sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Coeur Mining is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CDE's full-year earnings has moved 266.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, CDE has returned 81.3% so far this year. In comparison, Basic Materials companies have returned an average of -0.9%. As we can see, Coeur Mining is performing better than its sector in the calendar year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Hecla Mining (HL). The stock has returned 20.6% year-to-date.
Over the past three months, Hecla Mining's consensus EPS estimate for the current year has increased 366.7%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Coeur Mining belongs to the Mining - Non Ferrous industry, a group that includes 12 individual stocks and currently sits at #19 in the Zacks Industry Rank. On average, this group has gained an average of 27.2% so far this year, meaning that CDE is performing better in terms of year-to-date returns.
In contrast, Hecla Mining falls under the Mining - Silver industry. Currently, this industry has 10 stocks and is ranked #19. Since the beginning of the year, the industry has moved +30.1%.
Coeur Mining and Hecla Mining 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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Hecla Mining Company (HL) : Free Stock Analysis Report
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