Is BUNGE GLOBAL SA (BG) Stock Outpacing Its Basic Materials Peers This Year?

For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Bunge Global (BG) been one of those stocks this year? 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.Bunge Global is a member of our Basic Materials group, which includes 248 different companies and currently sits at #4 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 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. Bunge Global is currently sporting a Zacks Rank of #1 (Strong Buy).The Zacks Consensus Estimate for BG's full-year earnings has moved 18% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.Our latest available data shows that BG has returned about 26.4% since the start of the calendar year. In comparison, Basic Materials companies have returned an average of 13.5%. As we can see, Bunge Global 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 Lifezone Metals Limited (LZM). The stock is up 13.6% year-to-date.In Lifezone Metals Limited's case, the consensus EPS estimate for the current year increased 12.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).To break things down more, Bunge Global belongs to the Agriculture - Products industry, a group that includes 4 individual companies and currently sits at #48 in the Zacks Industry Rank. On average, stocks in this group have gained 19.4% this year, meaning that BG is performing better in terms of year-to-date returns. Lifezone Metals Limited, however, belongs to the Mining - Miscellaneous industry. Currently, this 72-stock industry is ranked #152. The industry has moved +24.1% so far this year.Bunge Global and Lifezone Metals Limited could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.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%.Free: See Our Top Stock And 4 Runners UpThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks