Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Agnico Eagle Mines (AEM) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Agnico Eagle Mines is a member of the Basic Materials sector. This group includes 236 individual stocks and currently holds a Zacks Sector Rank of #14. 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. Agnico Eagle Mines is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for AEM's full-year earnings has moved 15.1% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, AEM has moved about 96.6% on a year-to-date basis. In comparison, Basic Materials companies have returned an average of 20.9%. As we can see, Agnico Eagle Mines is performing better than its sector in the calendar year.
Mosaic (MOS) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 37%.
The consensus estimate for Mosaic's current year EPS has increased 11.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Agnico Eagle Mines belongs to the Mining - Gold industry, which includes 39 individual stocks and currently sits at #91 in the Zacks Industry Rank. On average, this group has gained an average of 102.5% so far this year, meaning that AEM is slightly underperforming its industry in terms of year-to-date returns.
In contrast, Mosaic falls under the Fertilizers industry. Currently, this industry has 6 stocks and is ranked #3. Since the beginning of the year, the industry has moved +20.2%.
Investors with an interest in Basic Materials stocks should continue to track Agnico Eagle Mines and Mosaic. These stocks will be looking to continue their solid performance.
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Agnico Eagle Mines Limited (AEM): Free Stock Analysis Report The Mosaic Company (MOS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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