Investors focused on the Basic Materials space have likely heard of B2Gold (BTG), 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.
B2Gold is one of 239 individual stocks in the Basic Materials sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. BTG is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for BTG's full-year earnings has moved 8.33% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, BTG has returned 30.92% so far this year. Meanwhile, the Basic Materials sector has returned an average of -19.51% on a year-to-date basis. As we can see, B2Gold is performing better than its sector in the calendar year.
Looking more specifically, BTG belongs to the Mining - Gold industry, which includes 30 individual stocks and currently sits at #7 in the Zacks Industry Rank. On average, this group has gained an average of 26.91% so far this year, meaning that BTG is performing better in terms of year-to-date returns.
BTG 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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