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Investors focused on the Basic Materials space have likely heard of Fortuna Silver Mines (FSM), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Fortuna Silver Mines is a member of our Basic Materials group, which includes 235 different companies and currently sits at #7 in 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 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. FSM is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for FSM's full-year earnings has moved 125% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that FSM has returned about 66.91% since the start of the calendar year. Meanwhile, stocks in the Basic Materials group have gained about 1.79% on average. This means that Fortuna Silver Mines is outperforming the sector as a whole this year.
To break things down more, FSM belongs to the Mining - Silver industry, a group that includes 11 individual companies and currently sits at #85 in the Zacks Industry Rank. Stocks in this group have gained about 11.41% so far this year, so FSM is performing better this group in terms of year-to-date returns.
FSM will likely be looking to continue its solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to the company.
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