Advertisement
Australia markets closed

  • ALL ORDS

    7,937.50
    -0.40 (-0.01%)
     

  • AUD/USD

    0.6507
    +0.0018 (+0.28%)
     

  • ASX 200

    7,683.00
    -0.50 (-0.01%)
     

  • OIL

    83.52
    +0.16 (+0.19%)
     

  • GOLD

    2,338.40
    -3.70 (-0.16%)
     

  • Bitcoin AUD

    102,677.70
    +513.22 (+0.50%)
     

  • CMC Crypto 200

    1,417.55
    -6.55 (-0.46%)
     

Is Teck Resources (TECK) Outperforming Other Basic Materials Stocks 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. Is Teck Resources Ltd (TECK) one of those stocks right now? 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.

Teck Resources Ltd is a member of the Basic Materials sector. This group includes 240 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Teck Resources Ltd is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for TECK's full-year earnings has moved 73.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

ADVERTISEMENT

Based on the latest available data, TECK has gained about 36.3% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 4.6% on average. This shows that Teck Resources Ltd is outperforming its peers so far this year.

Another stock in the Basic Materials sector, Anglo American (NGLOY), has outperformed the sector so far this year. The stock's year-to-date return is 7.5%.

In Anglo American's case, the consensus EPS estimate for the current year increased 45.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Teck Resources Ltd is a member of the Mining - Miscellaneous industry, which includes 49 individual companies and currently sits at #43 in the Zacks Industry Rank. Stocks in this group have gained about 14.4% so far this year, so TECK is performing better this group in terms of year-to-date returns. Anglo American is also part of the same industry.

Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Teck Resources Ltd and Anglo American as they could maintain their solid performance.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Teck Resources Ltd (TECK) : Free Stock Analysis Report
 
Anglo American (NGLOY) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research