Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has DuPont de Nemours (DD) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
DuPont de Nemours is one of 235 companies in the Basic Materials group. The Basic Materials group currently sits at #13 within 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 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. DuPont de Nemours is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for DD's full-year earnings has moved 3.4% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that DD has returned about 10.9% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 6.2%. As we can see, DuPont de Nemours is performing better than its sector in the calendar year.
Another stock in the Basic Materials sector, Idaho Strategic Resources, Inc. (IDR), has outperformed the sector so far this year. The stock's year-to-date return is 163.8%.
For Idaho Strategic Resources, Inc. the consensus EPS estimate for the current year has increased 185.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, DuPont de Nemours belongs to the Chemical - Diversified industry, a group that includes 29 individual companies and currently sits at #208 in the Zacks Industry Rank. This group has gained an average of 3.2% so far this year, so DD is performing better in this area.
In contrast, Idaho Strategic Resources, Inc. falls under the Mining - Gold industry. Currently, this industry has 38 stocks and is ranked #24. Since the beginning of the year, the industry has moved +30.5%.
DuPont de Nemours and Idaho Strategic Resources, Inc. 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
