Here is how Aris Mining Corporation (ARIS) and Rio Tinto (RIO) have performed compared to their sector so far this year.
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Aris Mining Corporation (ARIS) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Aris Mining Corporation is one of 248 individual stocks in the Basic Materials sector. Collectively, these companies sit at #14 in 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Aris Mining Corporation is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ARIS' full-year earnings has moved 22.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ARIS has returned about 19% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 15.3%. As we can see, Aris Mining Corporation is performing better than its sector in the calendar year.
Rio Tinto (RIO) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 18%.
In Rio Tinto's case, the consensus EPS estimate for the current year increased 18.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Aris Mining Corporation is a member of the Mining - Gold industry, which includes 42 individual companies and currently sits at #96 in the Zacks Industry Rank. On average, this group has gained an average of 12.8% so far this year, meaning that ARIS is performing better in terms of year-to-date returns.
In contrast, Rio Tinto falls under the Mining - Miscellaneous industry. Currently, this industry has 72 stocks and is ranked #143. Since the beginning of the year, the industry has moved +17.3%.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Aris Mining Corporation and Rio Tinto as they could maintain their solid performance.
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