Is Northern Dynasty Minerals (NAK) Stock Outpacing Its Basic Materials Peers This Year?

Investors focused on the Basic Materials space have likely heard of Northern Dynasty Minerals (NAK), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of NAK and the rest of the Basic Materials group's stocks.

Northern Dynasty Minerals is one of 236 individual stocks in the Basic Materials sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. 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. NAK is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for NAK's full-year earnings has moved 10% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the most recent data, NAK has returned 234.11% so far this year. At the same time, Basic Materials stocks have gained an average of 2.63%. This means that Northern Dynasty Minerals is performing better than its sector in terms of year-to-date returns.

Breaking things down more, NAK is a member of the Mining - Gold industry, which includes 31 individual companies and currently sits at #64 in the Zacks Industry Rank. On average, this group has gained an average of 55.81% so far this year, meaning that NAK is performing better in terms of year-to-date returns.

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

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