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 241 individual stocks in the Basic Materials sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. First Majestic Silver is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for AG's full-year earnings has moved 150% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, AG has gained about 189.8% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 24.6% on average. This shows that First Majestic Silver is outperforming its peers so far this year.
Another stock in the Basic Materials sector, Franco-Nevada (FNV), has outperformed the sector so far this year. The stock's year-to-date return is 73%.
In Franco-Nevada's case, the consensus EPS estimate for the current year increased 8.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, First Majestic Silver belongs to the Mining - Silver industry, a group that includes 9 individual stocks and currently sits at #15 in the Zacks Industry Rank. This group has gained an average of 153.4% so far this year, so AG is performing better in this area.
In contrast, Franco-Nevada falls under the Mining - Gold industry. Currently, this industry has 41 stocks and is ranked #24. Since the beginning of the year, the industry has moved +134.5%.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to First Majestic Silver and Franco-Nevada as they could maintain 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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