Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has Orla Mining Ltd. (ORLA) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Orla Mining Ltd. is a member of the Basic Materials sector. This group includes 235 individual stocks and currently holds a Zacks Sector Rank of #10. 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Orla Mining Ltd. is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ORLA's full-year earnings has moved 27.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that ORLA has returned about 2.5% since the start of the calendar year. At the same time, Basic Materials stocks have lost an average of 9.8%. This means that Orla Mining Ltd. is performing better than its sector in terms of year-to-date returns.
Carpenter Technology (CRS) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 15.6%.
For Carpenter Technology, the consensus EPS estimate for the current year has increased 2.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Orla Mining Ltd. belongs to the Mining - Gold industry, a group that includes 40 individual stocks and currently sits at #86 in the Zacks Industry Rank. On average, stocks in this group have gained 14.5% this year, meaning that ORLA is slightly underperforming its industry in terms of year-to-date returns.
In contrast, Carpenter Technology falls under the Steel - Speciality industry. Currently, this industry has 5 stocks and is ranked #12. Since the beginning of the year, the industry has moved +52%.
Investors interested in the Basic Materials sector may want to keep a close eye on Orla Mining Ltd. and Carpenter Technology as they attempt to continue their solid performance.
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