Is Glencore PLC (GLNCY) Stock Outpacing Its Basic Materials Peers This Year?

Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is Glencore PLC (GLNCY) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.

Glencore PLC is one of 241 companies in the Basic Materials group. The Basic Materials group currently sits at #4 within 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Glencore PLC is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for GLNCY's full-year earnings has moved 56.6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Our latest available data shows that GLNCY has returned about 36.4% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 14%. This means that Glencore PLC is performing better than its sector in terms of year-to-date returns.

One other Basic Materials stock that has outperformed the sector so far this year is MP Materials Corp. (MP). The stock is up 15.5% year-to-date.

For MP Materials Corp. the consensus EPS estimate for the current year has increased 28.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Glencore PLC belongs to the Mining - Miscellaneous industry, which includes 49 individual stocks and currently sits at #46 in the Zacks Industry Rank. On average, this group has gained an average of 31% so far this year, meaning that GLNCY is performing better in terms of year-to-date returns. MP Materials Corp. is also part of the same industry.

Investors with an interest in Basic Materials stocks should continue to track Glencore PLC and MP Materials Corp. These stocks will be looking to continue their solid performance.

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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.