Investors focused on the Basic Materials space have likely heard of DRDGOLD (DRD), 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.
DRDGOLD is one of 242 individual stocks in the Basic Materials sector. Collectively, these companies sit at #12 in the Zacks Sector Rank. 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. DRD is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for DRD's full-year earnings has moved 307.69% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, DRD has returned 6.63% so far this year. Meanwhile, the Basic Materials sector has returned an average of -32.89% on a year-to-date basis. This shows that DRDGOLD is outperforming its peers so far this year.
Breaking things down more, DRD is a member of the Mining - Gold industry, which includes 34 individual companies and currently sits at #21 in the Zacks Industry Rank. On average, stocks in this group have lost 13.67% this year, meaning that DRD 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 DRD as it looks to continue its solid performance.
DRDGOLD Limited (DRD): Free Stock Analysis Report
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