Investors focused on the Basic Materials space have likely heard of Northern Dynasty Minerals (NAK), 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.
Northern Dynasty Minerals is a member of our Basic Materials group, which includes 235 different companies and currently sits at #7 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. NAK is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for NAK’s full-year earnings has moved 11.11% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.
Based on the most recent data, NAK has returned 89.25% so far this year. Meanwhile, the Basic Materials sector has returned an average of 6.37% on a year-to-date basis. This shows that Northern Dynasty Minerals is outperforming its peers so far this year.
Breaking things down more, NAK is a member of the Mining – Gold industry, which includes 33 individual companies and currently sits at #113 in the Zacks Industry Rank. On average, stocks in this group have gained 45.86% this year, meaning that NAK is performing better in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to NAK as it looks to continue its solid performance.
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