Investors focused on the Basic Materials space have likely heard of Southern Copper (SCCO), but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
Southern Copper is one of 245 individual stocks in the Basic Materials sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. SCCO is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for SCCO's full-year earnings has moved 20.19% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, SCCO has gained about 9.63% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 18.02% on average. This shows that Southern Copper is outperforming its peers so far this year.
Breaking things down more, SCCO is a member of the Mining - Non Ferrous industry, which includes 9 individual companies and currently sits at #94 in the Zacks Industry Rank. This group has gained an average of 23.59% so far this year, so SCCO is slightly underperforming its industry in this area.
SCCO 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.