Are Basic Materials Stocks Lagging Metalla Royalty & Streaming (MTA) This Year?

Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has Metalla Royalty & Streaming Ltd. (MTA) been one of those stocks this year? 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.

Metalla Royalty & Streaming Ltd. is one of 275 companies in the Basic Materials group. The Basic Materials group currently sits at #15 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. Metalla Royalty & Streaming Ltd. is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for MTA's full-year earnings has moved 16.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, MTA has gained about 25.6% so far this year. At the same time, Basic Materials stocks have gained an average of 14.7%. As we can see, Metalla Royalty & Streaming Ltd. is performing better than its sector in the calendar year.

One other Basic Materials stock that has outperformed the sector so far this year is SSAB (SSAAY). The stock is up 45.8% year-to-date.

For SSAB, the consensus EPS estimate for the current year has increased 2.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Metalla Royalty & Streaming Ltd. belongs to the Mining - Miscellaneous industry, a group that includes 86 individual stocks and currently sits at #196 in the Zacks Industry Rank. Stocks in this group have gained about 22.5% so far this year, so MTA is performing better this group in terms of year-to-date returns.

In contrast, SSAB falls under the Steel - Producers industry. Currently, this industry has 17 stocks and is ranked #84. Since the beginning of the year, the industry has moved +43.5%.

Investors with an interest in Basic Materials stocks should continue to track Metalla Royalty & Streaming Ltd. and SSAB. These stocks will be looking to continue their solid performance.

Zacks' Research Chief Names "Stock Most Likely to Double"

Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.

This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research