Is Alamos Gold (AGI) Stock Outpacing Its Basic Materials Peers This Year?
The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Alamos Gold (AGI) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Alamos Gold is one of 239 companies in the Basic Materials group. The Basic Materials group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. AGI is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AGI's full-year earnings has moved 72.73% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, AGI has gained about 35.88% so far this year. In comparison, Basic Materials companies have returned an average of -18.33%. This means that Alamos Gold is outperforming the sector as a whole this year.
To break things down more, AGI belongs to the Mining - Gold industry, a group that includes 30 individual companies and currently sits at #7 in the Zacks Industry Rank. Stocks in this group have gained about 24.25% so far this year, so AGI is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to AGI as it looks to continue its solid performance.
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