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Is Pan American Silver (PAAS) Stock Outpacing Its Basic Materials Peers This Year?
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For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Pan American Silver (PAAS - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of PAAS and the rest of the Basic Materials group's stocks.
Pan American Silver is one of 235 companies in the Basic Materials group. The Basic Materials group currently sits at #5 within 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 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. PAAS is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for PAAS's full-year earnings has moved 15.41% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, PAAS has returned 50.78% so far this year. Meanwhile, the Basic Materials sector has returned an average of 3.63% on a year-to-date basis. This means that Pan American Silver is outperforming the sector as a whole this year.
To break things down more, PAAS belongs to the Mining - Silver industry, a group that includes 11 individual companies and currently sits at #77 in the Zacks Industry Rank. Stocks in this group have gained about 27.02% so far this year, so PAAS is performing better this group in terms of year-to-date returns.
Investors in the Basic Materials sector will want to keep a close eye on PAAS as it attempts to continue its solid performance.
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Is Pan American Silver (PAAS) Stock Outpacing Its Basic Materials Peers This Year?
For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Pan American Silver (PAAS - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of PAAS and the rest of the Basic Materials group's stocks.
Pan American Silver is one of 235 companies in the Basic Materials group. The Basic Materials group currently sits at #5 within 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 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. PAAS is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for PAAS's full-year earnings has moved 15.41% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, PAAS has returned 50.78% so far this year. Meanwhile, the Basic Materials sector has returned an average of 3.63% on a year-to-date basis. This means that Pan American Silver is outperforming the sector as a whole this year.
To break things down more, PAAS belongs to the Mining - Silver industry, a group that includes 11 individual companies and currently sits at #77 in the Zacks Industry Rank. Stocks in this group have gained about 27.02% so far this year, so PAAS is performing better this group in terms of year-to-date returns.
Investors in the Basic Materials sector will want to keep a close eye on PAAS as it attempts to continue its solid performance.