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Is Barrick Gold (GOLD) Stock Outpacing Its Basic Materials Peers This Year?

Zacks Equity Research

The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Barrick Gold (GOLD) one of those stocks right now? 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.

Barrick Gold is a member of our Basic Materials group, which includes 242 different companies and currently sits at #9 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 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. GOLD is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for GOLD's full-year earnings has moved 5.51% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Our latest available data shows that GOLD has returned about 2.80% since the start of the calendar year. Meanwhile, the Basic Materials sector has returned an average of -31.32% on a year-to-date basis. This means that Barrick Gold is outperforming the sector as a whole this year.

Breaking things down more, GOLD is a member of the Mining - Gold industry, which includes 34 individual companies and currently sits at #18 in the Zacks Industry Rank. This group has lost an average of 9.04% so far this year, so GOLD is performing better in this area.

Investors in the Basic Materials sector will want to keep a close eye on GOLD as it attempts to continue its solid performance.


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