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Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has Osisko Gold Royalties (OR) been one of those stocks this year? 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.
Osisko Gold Royalties is one of 235 companies in the Basic Materials group. The Basic Materials group currently sits at #9 within 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 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. Osisko Gold Royalties is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for OR's full-year earnings has moved 1.2% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, OR has gained about 47.3% so far this year. Meanwhile, the Basic Materials sector has returned an average of 1% on a year-to-date basis. This means that Osisko Gold Royalties is performing better than its sector in terms of year-to-date returns.
One other Basic Materials stock that has outperformed the sector so far this year is Sappi Ltd. (SPPJY). The stock is up 24.4% year-to-date.
Over the past three months, Sappi Ltd.'s consensus EPS estimate for the current year has increased 12.7%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Osisko Gold Royalties belongs to the Mining - Gold industry, which includes 38 individual stocks and currently sits at #9 in the Zacks Industry Rank. On average, this group has gained an average of 29.5% so far this year, meaning that OR is performing better in terms of year-to-date returns.
Sappi Ltd. however, belongs to the Paper and Related Products industry. Currently, this 11-stock industry is ranked #188. The industry has moved +31.6% so far this year.
Investors with an interest in Basic Materials stocks should continue to track Osisko Gold Royalties and Sappi Ltd. These stocks will be looking to continue their solid performance.
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