Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has Aris Mining CorporationARMN been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Aris Mining Corporation is one of 238 individual stocks in the Basic Materials sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Aris Mining Corporation is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ARMN's full-year earnings has moved 5.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, ARMN has gained about 31.5% so far this year. In comparison, Basic Materials companies have returned an average of -1.1%. This means that Aris Mining Corporation is performing better than its sector in terms of year-to-date returns.
Another Basic Materials stock, which has outperformed the sector so far this year, is AshlandASH. The stock has returned 14.7% year-to-date.
Over the past three months, Ashland's consensus EPS estimate for the current year has increased 5.4%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Aris Mining Corporation belongs to the Mining - Gold industry, a group that includes 37 individual stocks and currently sits at #33 in the Zacks Industry Rank. On average, this group has gained an average of 23.4% so far this year, meaning that ARMN is performing better in terms of year-to-date returns.
In contrast, Ashland falls under the Chemical - Specialty industry. Currently, this industry has 33 stocks and is ranked #51. Since the beginning of the year, the industry has moved -17.7%.
Aris Mining Corporation and Ashland could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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