Yahoo Finance Is Eldorado Gold (EGO) Outperforming Other Basic Materials Stocks This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is Eldorado Gold Corporation (EGO) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
Eldorado Gold Corporation is one of 241 companies in the Basic Materials group. The Basic Materials group currently sits at #10 within 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. Eldorado Gold Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for EGO's full-year earnings has moved 62.2% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, EGO has returned 14% so far this year. In comparison, Basic Materials companies have returned an average of -4.2%. This means that Eldorado Gold Corporation is outperforming the sector as a whole this year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Osisko Gold Royalties (OR). The stock has returned 7.6% year-to-date.
For Osisko Gold Royalties, the consensus EPS estimate for the current year has increased 15.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Eldorado Gold Corporation belongs to the Mining - Gold industry, a group that includes 40 individual stocks and currently sits at #66 in the Zacks Industry Rank. On average, this group has gained an average of 10.4% so far this year, meaning that EGO is performing better in terms of year-to-date returns. Osisko Gold Royalties is also part of the same industry.
Eldorado Gold Corporation and Osisko Gold Royalties could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.
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Eldorado Gold Corporation (EGO) : Free Stock Analysis Report
Osisko Gold Royalties Ltd (OR) : Free Stock Analysis Report
