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 #14 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 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).
The Zacks Consensus Estimate for AG's full-year earnings has moved 675% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, AG has returned 85.23% so far this year. At the same time, Basic Materials stocks have gained an average of 10.31%. This means that First Majestic Silver is outperforming the sector as a whole this year.
Looking more specifically, AG belongs to the Mining - Silver industry, a group that includes 11 individual stocks and currently sits at #182 in the Zacks Industry Rank. Stocks in this group have gained about 22.54% so far this year, so AG 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 AG as it looks to continue its solid performance.
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