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Is BHP Group (BHP) Stock Outpacing Its Basic Materials Peers This Year?

Zacks Equity Research
·2-min read

The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is BHP Group (BHP) 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.

BHP Group is a member of the Basic Materials sector. This group includes 236 individual stocks and currently holds a Zacks Sector Rank of #3. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

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. BHP is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for BHP's full-year earnings has moved 37.43% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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According to our latest data, BHP has moved about 5.03% on a year-to-date basis. Meanwhile, the Basic Materials sector has returned an average of 1.37% on a year-to-date basis. This shows that BHP Group is outperforming its peers so far this year.

To break things down more, BHP belongs to the Mining - Miscellaneous industry, a group that includes 42 individual companies and currently sits at #67 in the Zacks Industry Rank. On average, this group has gained an average of 13.22% so far this year, meaning that BHP is slightly underperforming its industry in terms of year-to-date returns.

BHP 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