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

Zacks Equity Research
·2-min read

Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Barrick Gold (GOLD) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of GOLD and the rest of the Basic Materials group's stocks.

Barrick Gold is a member of our Basic Materials group, which includes 236 different companies and currently sits at #5 in 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 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. GOLD is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for GOLD's full-year earnings has moved 8.85% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the most recent data, GOLD has returned 57.40% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 2.71% on average. This shows that Barrick Gold is outperforming its peers so far this year.

Looking more specifically, GOLD belongs to the Mining - Gold industry, which includes 32 individual stocks and currently sits at #65 in the Zacks Industry Rank. On average, stocks in this group have gained 46.33% this year, meaning that GOLD is performing better in terms of year-to-date returns.

GOLD 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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Zacks Investment Research