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Has Hecla Mining (HL) Outpaced Other Basic Materials Stocks This Year?

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·2 min read
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Investors focused on the Basic Materials space have likely heard of Hecla Mining (HL), 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.

Hecla Mining is one of 237 companies in the Basic Materials group. The Basic Materials group currently sits at #4 within the Zacks Sector Rank. 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. HL is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for HL's full-year earnings has moved 4,900% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, HL has moved about 56.34% on a year-to-date basis. In comparison, Basic Materials companies have returned an average of 4.52%. This shows that Hecla Mining is outperforming its peers so far this year.

Looking more specifically, HL belongs to the Mining - Silver industry, a group that includes 11 individual stocks and currently sits at #118 in the Zacks Industry Rank. On average, this group has gained an average of 14.76% so far this year, meaning that HL is performing better in terms of year-to-date returns.

Investors with an interest in Basic Materials stocks should continue to track HL. The stock will be looking to continue its solid performance.


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