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Is BHP Group (BHP) Outperforming Other Basic Materials Stocks This Year?

Zacks Equity Research
·2 min read

Investors focused on the Basic Materials space have likely heard of BHP Group (BHP), 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.

BHP Group is one of 235 companies in the Basic Materials group. The Basic Materials group currently sits at #13 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 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. BHP is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for BHP's full-year earnings has moved 21.28% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, BHP has moved about 5.74% on a year-to-date basis. Meanwhile, the Basic Materials sector has returned an average of 12.95% on a year-to-date basis. This means that BHP Group is outperforming the sector as a whole this year.

To break things down more, BHP belongs to the Mining - Miscellaneous industry, a group that includes 42 individual companies and currently sits at #207 in the Zacks Industry Rank. On average, this group has gained an average of 14.97% so far this year, meaning that BHP is slightly underperforming its industry in terms of year-to-date returns.

Investors in the Basic Materials sector will want to keep a close eye on BHP as it attempts to continue its solid performance.


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