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Has Agnico Eagle Mines (AEM) Outpaced Other Basic Materials Stocks This Year?
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The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Agnico Eagle Mines (AEM - Free Report) one of those stocks right now? 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 248 individual stocks in the Basic Materials sector. Collectively, these companies sit at #12 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 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. AEM is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AEM's full-year earnings has moved 18.82% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, AEM has moved about 32.85% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have gained about 14.42% on average. As we can see, Agnico Eagle Mines is performing better than its sector in the calendar year.
To break things down more, AEM belongs to the Mining - Gold industry, a group that includes 32 individual companies and currently sits at #26 in the Zacks Industry Rank. This group has gained an average of 39.47% so far this year, so AEM is slightly underperforming its industry in this area.
Investors with an interest in Basic Materials stocks should continue to track AEM. The stock will be looking to continue its solid performance.
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Has Agnico Eagle Mines (AEM) Outpaced Other Basic Materials Stocks This Year?
The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Agnico Eagle Mines (AEM - Free Report) one of those stocks right now? 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 248 individual stocks in the Basic Materials sector. Collectively, these companies sit at #12 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 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. AEM is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AEM's full-year earnings has moved 18.82% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, AEM has moved about 32.85% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have gained about 14.42% on average. As we can see, Agnico Eagle Mines is performing better than its sector in the calendar year.
To break things down more, AEM belongs to the Mining - Gold industry, a group that includes 32 individual companies and currently sits at #26 in the Zacks Industry Rank. This group has gained an average of 39.47% so far this year, so AEM is slightly underperforming its industry in this area.
Investors with an interest in Basic Materials stocks should continue to track AEM. The stock will be looking to continue its solid performance.