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Has Chemours (CC) Outpaced Other Basic Materials Stocks This Year?

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For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Chemours (CC) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.

Chemours is a member of the Basic Materials sector. This group includes 251 individual stocks and currently holds a Zacks Sector Rank of #7. 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Chemours is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for CC's full-year earnings has moved 10.1% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, CC has gained about 28.3% so far this year. At the same time, Basic Materials stocks have gained an average of 6.5%. This means that Chemours is performing better than its sector in terms of year-to-date returns.

Another stock in the Basic Materials sector, Nutrien (NTR), has outperformed the sector so far this year. The stock's year-to-date return is 43.9%.

Over the past three months, Nutrien's consensus EPS estimate for the current year has increased 11.3%. The stock currently has a Zacks Rank #1 (Strong Buy).

To break things down more, Chemours belongs to the Chemical - Diversified industry, a group that includes 41 individual companies and currently sits at #86 in the Zacks Industry Rank. This group has gained an average of 14.4% so far this year, so CC is performing better in this area.

In contrast, Nutrien falls under the Fertilizers industry. Currently, this industry has 7 stocks and is ranked #3. Since the beginning of the year, the industry has moved +32.4%.

Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Chemours and Nutrien as they could maintain their solid performance.


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