Is Hecla Mining (HL) Stock Outpacing Its Basic Materials Peers This Year?
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The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Hecla Mining (HL) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Hecla Mining is a member of the Basic Materials sector. This group includes 235 individual stocks and currently holds a Zacks Sector Rank of #11. 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 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. Hecla Mining is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for HL's full-year earnings has moved 35% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, HL has returned 48.9% so far this year. At the same time, Basic Materials stocks have gained an average of 1.4%. This shows that Hecla Mining is outperforming its peers so far this year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Eldorado Gold Corporation (EGO). The stock has returned 39.9% year-to-date.
Over the past three months, Eldorado Gold Corporation's consensus EPS estimate for the current year has increased 18.1%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Hecla Mining belongs to the Mining - Silver industry, which includes 9 individual stocks and currently sits at #76 in the Zacks Industry Rank. This group has gained an average of 57.3% so far this year, so HL is slightly underperforming its industry in this area.
On the other hand, Eldorado Gold Corporation belongs to the Mining - Gold industry. This 38-stock industry is currently ranked #15. The industry has moved +38.2% year to date.
Investors interested in the Basic Materials sector may want to keep a close eye on Hecla Mining and Eldorado Gold Corporation as they attempt to continue their solid performance.
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Hecla Mining Company (HL) : Free Stock Analysis Report
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