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Is BHP Group Limited Sponsored (BHP) Outperforming Other Basic Materials Stocks 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. Has BHP Group Limited Sponsored (BHP) been one of those stocks this year? 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.

BHP Group Limited Sponsored is a member of the Basic Materials sector. This group includes 245 individual stocks and currently holds a Zacks Sector Rank of #2. 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 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. BHP is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for BHP's full-year earnings has moved 18.55% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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According to our latest data, BHP has moved about 6.93% on a year-to-date basis. In comparison, Basic Materials companies have returned an average of 13.21%. This means that BHP Group Limited Sponsored is outperforming the sector as a whole this year.

Looking more specifically, BHP belongs to the Mining - Miscellaneous industry, which includes 46 individual stocks and currently sits at #76 in the Zacks Industry Rank. On average, stocks in this group have gained 22.42% this year, meaning that BHP is slightly underperforming its industry in terms of year-to-date returns.

Investors with an interest in Basic Materials stocks should continue to track BHP. The stock will be looking to continue its solid performance.


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