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Is Barrick Gold (GOLD) Stock Outpacing Its Basic Materials Peers This Year?

Investors focused on the Basic Materials space have likely heard of Barrick Gold (GOLD), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.

Barrick Gold is a member of our Basic Materials group, which includes 236 different companies and currently sits at #6 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 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. GOLD is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for GOLD's full-year earnings has moved 15.68% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the most recent data, GOLD has returned 55.41% so far this year. In comparison, Basic Materials companies have returned an average of 5.45%. This means that Barrick Gold is performing better than its sector in terms of year-to-date returns.

To break things down more, GOLD belongs to the Mining - Gold industry, a group that includes 32 individual companies and currently sits at #80 in the Zacks Industry Rank. On average, this group has gained an average of 45.52% so far this year, meaning that GOLD is performing better in terms of year-to-date returns.

Investors in the Basic Materials sector will want to keep a close eye on GOLD as it attempts to continue its solid performance.


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