Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has First Majestic Silver (AG) 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.
First Majestic Silver is one of 239 companies in the Basic Materials group. The Basic Materials group currently sits at #7 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. First Majestic Silver is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AG's full-year earnings has moved 145% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, AG has moved about 118.8% on a year-to-date basis. In comparison, Basic Materials companies have returned an average of 20.4%. This means that First Majestic Silver is performing better than its sector in terms of year-to-date returns.
Franco-Nevada (FNV) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 67.5%.
Over the past three months, Franco-Nevada's consensus EPS estimate for the current year has increased 8%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, First Majestic Silver belongs to the Mining - Silver industry, which includes 9 individual stocks and currently sits at #9 in the Zacks Industry Rank. This group has gained an average of 114.2% so far this year, so AG is performing better in this area.
Franco-Nevada, however, belongs to the Mining - Gold industry. Currently, this 41-stock industry is ranked #35. The industry has moved +121.5% so far this year.
Investors interested in the Basic Materials sector may want to keep a close eye on First Majestic Silver and Franco-Nevada as they attempt to continue their solid performance.
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First Majestic Silver Corp. (AG): Free Stock Analysis Report Franco-Nevada Corporation (FNV): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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