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Is DRDGOLD (DRD) Stock Outpacing Its Basic Materials Peers This Year?

Zacks Equity Research

Investors focused on the Basic Materials space have likely heard of DRDGOLD (DRD), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.

DRDGOLD is a member of the Basic Materials sector. This group includes 239 individual stocks and currently holds a Zacks Sector Rank of #4. 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 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. 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.

According to our latest data, DRD has moved about 87.13% on a year-to-date basis. At the same time, Basic Materials stocks have lost an average of 14.39%. This shows that DRDGOLD is outperforming its peers so far this year.

To break things down more, DRD belongs to the Mining - Gold industry, a group that includes 30 individual companies and currently sits at #9 in the Zacks Industry Rank. On average, stocks in this group have gained 28.37% this year, meaning that DRD is performing better in terms of year-to-date returns.

DRD will likely be looking to continue its solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to the company.


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Zacks Investment Research