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Is Barrick Gold (GOLD) Outperforming Other Basic Materials Stocks This Year?

Zacks Equity Research

Investors focused on the Basic Materials space have likely heard of Barrick Gold (GOLD), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.

Barrick Gold is one of 239 companies in the Basic Materials group. The Basic Materials group currently sits at #2 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

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. GOLD is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for GOLD's full-year earnings has moved 8.64% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the most recent data, GOLD has returned 28.78% so far this year. Meanwhile, the Basic Materials sector has returned an average of -9.57% on a year-to-date basis. This means that Barrick Gold is performing better than its sector in terms of year-to-date returns.

To break things down more, GOLD belongs to the Mining - Gold industry, a group that includes 30 individual companies and currently sits at #22 in the Zacks Industry Rank. Stocks in this group have gained about 14.09% so far this year, so GOLD is performing better this group in terms of year-to-date returns.

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


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Zacks Investment Research