Yahoo Finance Is Agnico Eagle Mines (AEM) Outperforming Other Basic Materials Stocks This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has Agnico Eagle Mines (AEM) been one of those stocks this year? 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.
Agnico Eagle Mines is one of 236 companies in the Basic Materials group. The Basic Materials group currently sits at #13 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 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. Agnico Eagle Mines is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AEM's full-year earnings has moved 18.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that AEM has returned about 2.9% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 0.9%. This means that Agnico Eagle Mines is outperforming the sector as a whole this year.
Another stock in the Basic Materials sector, Nucor (NUE), has outperformed the sector so far this year. The stock's year-to-date return is 6.2%.
In Nucor's case, the consensus EPS estimate for the current year increased 27.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Agnico Eagle Mines belongs to the Mining - Gold industry, a group that includes 37 individual stocks and currently sits at #45 in the Zacks Industry Rank. This group has gained an average of 15.3% so far this year, so AEM is slightly underperforming its industry in this area.
On the other hand, Nucor belongs to the Steel - Producers industry. This 24-stock industry is currently ranked #55. The industry has moved +11.5% year to date.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Agnico Eagle Mines and Nucor as they could maintain their solid performance.
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Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report
Nucor Corporation (NUE) : Free Stock Analysis Report
