Has Gold Fields (GFI) Outpaced Other Basic Materials Stocks This Year?
Investors focused on the Basic Materials space have likely heard of Gold Fields (GFI), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Gold Fields is a member of our Basic Materials group, which includes 236 different companies and currently sits at #2 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. GFI is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for GFI's full-year earnings has moved 3.67% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that GFI has returned about 79.24% since the start of the calendar year. In comparison, Basic Materials companies have returned an average of 1.25%. This shows that Gold Fields is outperforming its peers so far this year.
To break things down more, GFI belongs to the Mining - Gold industry, a group that includes 31 individual companies and currently sits at #57 in the Zacks Industry Rank. On average, this group has gained an average of 42.66% so far this year, meaning that GFI is performing better in terms of year-to-date returns.
GFI will likely be looking to continue its solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to the company.
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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.