Investors focused on the Basic Materials space have likely heard of First Majestic Silver (AG), but is the stock performing well in comparison to the rest of its sector peers? 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 246 companies in the Basic Materials group. The Basic Materials group currently sits at #16 within 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. AG 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 3,650% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that AG has returned about 73.68% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 10.75%. This shows that First Majestic Silver is outperforming its peers so far this year.
Looking more specifically, AG belongs to the Mining - Silver industry, which includes 11 individual stocks and currently sits at #103 in the Zacks Industry Rank. On average, this group has gained an average of 16.76% so far this year, meaning that AG is performing better in terms of year-to-date returns.
Investors with an interest in Basic Materials stocks should continue to track AG. The stock will be looking to continue its solid performance.
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