Is DRDGOLD (DRD) Outperforming Other Basic Materials Stocks This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has DRDGOLD (DRD) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
DRDGOLD is one of 239 individual stocks in the Basic Materials sector. Collectively, these companies sit at #4 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 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. DRD is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for DRD's full-year earnings has moved 307.69% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, DRD has returned 79.14% so far this year. At the same time, Basic Materials stocks have lost an average of 22.32%. This means that DRDGOLD is outperforming the sector as a whole this year.
Looking more specifically, DRD belongs to the Mining - Gold industry, which includes 30 individual stocks and currently sits at #8 in the Zacks Industry Rank. On average, this group has gained an average of 22.79% so far this year, meaning that DRD is performing better in terms of year-to-date returns.
Investors with an interest in Basic Materials stocks should continue to track DRD. The stock will be looking to continue its solid performance.
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