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Is Rio Tinto (RIO) Outperforming Other Basic Materials Stocks This Year?

Zacks Equity Research
·2-min read

Investors focused on the Basic Materials space have likely heard of Rio Tinto (RIO), but is the stock performing well in comparison to the rest of its sector peers? 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.

Rio Tinto is one of 236 companies in the Basic Materials group. The Basic Materials group currently sits at #3 within 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. RIO is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for RIO's full-year earnings has moved 32.45% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

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Based on the latest available data, RIO has gained about 8.83% so far this year. In comparison, Basic Materials companies have returned an average of 2.63%. This shows that Rio Tinto is outperforming its peers so far this year.

Looking more specifically, RIO belongs to the Mining - Miscellaneous industry, which includes 42 individual stocks and currently sits at #81 in the Zacks Industry Rank. This group has gained an average of 15.63% so far this year, so RIO is slightly underperforming its industry in this area.

RIO 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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