Is Silvercorp Metals (SVM) Outperforming Other Basic Materials Stocks This Year?
Investors focused on the Basic Materials space have likely heard of Silvercorp Metals (SVM), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
Silvercorp Metals is a member of our Basic Materials group, which includes 247 different companies and currently sits at #13 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. SVM is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for SVM's full-year earnings has moved 13.64% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, SVM has gained about 175.71% so far this year. At the same time, Basic Materials stocks have gained an average of 16.50%. This shows that Silvercorp Metals is outperforming its peers so far this year.
Breaking things down more, SVM is a member of the Mining - Miscellaneous industry, which includes 43 individual companies and currently sits at #158 in the Zacks Industry Rank. This group has gained an average of 19.16% so far this year, so SVM is performing better in this area.
Investors in the Basic Materials sector will want to keep a close eye on SVM as it attempts to continue its solid performance.
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