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The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Coeur Mining (CDE) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Coeur Mining is a member of our Basic Materials group, which includes 236 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. CDE is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CDE's full-year earnings has moved 2.84% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, CDE has gained about 1.98% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 1.70% on average. As we can see, Coeur Mining is performing better than its sector in the calendar year.
Breaking things down more, CDE is a member of the Mining - Non Ferrous industry, which includes 9 individual companies and currently sits at #80 in the Zacks Industry Rank. Stocks in this group have gained about 3.63% so far this year, so CDE is slightly underperforming its industry this group in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to CDE as it looks to continue its solid performance.
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