Is Hecla Mining (HL) Outperforming Other Basic Materials Stocks This Year?
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? One simple way to answer this question is to take a look at the year-to-date performance of HL and the rest of the Basic Materials group's stocks.
Hecla Mining is a member of our Basic Materials group, which includes 237 different companies and currently sits at #5 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. HL is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for HL's full-year earnings has moved 1,150% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, HL has returned 49.85% so far this year. Meanwhile, the Basic Materials sector has returned an average of 0.48% on a year-to-date basis. This means that Hecla Mining is outperforming the sector as a whole this year.
To break things down more, HL belongs to the Mining - Silver industry, a group that includes 11 individual companies and currently sits at #80 in the Zacks Industry Rank. On average, this group has gained an average of 10.79% 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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