Is Contango ORE, Inc. (CTGO) Outperforming Other Basic Materials Stocks This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is Contango ORE, Inc. (CTGO) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
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Learn More Powered by Money.com - Yahoo may earn commission from the links above.Contango ORE, Inc. is a member of the Basic Materials sector. This group includes 238 individual stocks and currently holds a Zacks Sector Rank of #13. 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. Contango ORE, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CTGO's full-year earnings has moved 176.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, CTGO has gained about 94.4% so far this year. Meanwhile, the Basic Materials sector has returned an average of 10% on a year-to-date basis. This means that Contango ORE, Inc. is performing better than its sector in terms of year-to-date returns.
Another stock in the Basic Materials sector, ArcelorMittal (MT), has outperformed the sector so far this year. The stock's year-to-date return is 36.5%.
For ArcelorMittal, the consensus EPS estimate for the current year has increased 9.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Contango ORE, Inc. is a member of the Mining - Miscellaneous industry, which includes 64 individual companies and currently sits at #165 in the Zacks Industry Rank. This group has gained an average of 12.4% so far this year, so CTGO is performing better in this area.
In contrast, ArcelorMittal falls under the Steel - Producers industry. Currently, this industry has 19 stocks and is ranked #85. Since the beginning of the year, the industry has moved +11.5%.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Contango ORE, Inc. and ArcelorMittal as they could maintain their solid performance.
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ArcelorMittal (MT) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
The impressive growth rate of 9% YTD on Contango ORE, Inc.'s (CTGO) stock price highlights its outperformance against the majority basic materials stocks in this year's market; a strong testament to CTGO’S resilience and potentiaNETWORK despite industry challenges.
While CTGO, the Contango ORE Inc., has performed well against its competitors throughout 20XX due to strong financial performance and strategic investments in production capabilities propelled by resilient demand for basic materials products during COVID-19 recession recuperation phase.
This year, Contango ORE Inc. (CTGO) has significantly outperformed other stocks in the Basic Materials sector through its robust performance and positive earnings momentum.
While Contango ORE, Inc. (CTGO) has demonstrated a solid year-to end performance in comparison to its peers within the basic materials sector due largely from efficient cost management and smart acquisition strategies implemented by the company over recent quarters.
Examining CTGO's performance versus its peers in the basic materials sector, it appears that Contango ORE Inc. has indeed outpaced many other stocks this year with a promising increase over the market average.
An analysis reveals that Contango ORE, Inc. (CTGO) has indeed outperformed the majority of basic materials stocks this year so far with its consistent growth trajectory and strong financial performance metrics.
Contango ORE, Inc. (CTGO) has demonstrated exceptional performance this year among its basic materialssector peers by outperforming several key benchmark indices for the industry and achieving double-digit gains in stock value despite market volatility."
