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Is ArcelorMittal (MT) Stock Outpacing Its Basic Materials Peers This Year?

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  • MT

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

ArcelorMittal is one of 251 companies in the Basic Materials group. The Basic Materials group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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

The Zacks Consensus Estimate for MT's full-year earnings has moved 53.41% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the latest available data, MT has gained about 46.07% so far this year. At the same time, Basic Materials stocks have gained an average of 11.94%. This means that ArcelorMittal is performing better than its sector in terms of year-to-date returns.

Looking more specifically, MT belongs to the Steel - Producers industry, which includes 24 individual stocks and currently sits at #22 in the Zacks Industry Rank. This group has gained an average of 53.44% so far this year, so MT is slightly underperforming its industry in this area.

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


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