Investors focused on the Basic Materials space have likely heard of Impala Platinum Holdings (IMPUY), 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.
Impala Platinum Holdings is one of 245 individual stocks in the Basic Materials sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. IMPUY is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for IMPUY's full-year earnings has moved 9.29% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, IMPUY has gained about 26.64% so far this year. Meanwhile, the Basic Materials sector has returned an average of 24.27% on a year-to-date basis. This means that Impala Platinum Holdings is outperforming the sector as a whole this year.
Looking more specifically, IMPUY belongs to the Mining – Miscellaneous industry, which includes 46 individual stocks and currently sits at #181 in the Zacks Industry Rank. This group has gained an average of 37.27% so far this year, so IMPUY is slightly underperforming its industry in this area.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to IMPUY as it looks to continue its solid performance.
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