Yahoo Finance Are Basic Materials Stocks Lagging Alamos Gold (AGI) 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. Has Alamos Gold (AGI) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Alamos Gold is one of 236 companies in the Basic Materials group. The Basic Materials group currently sits at #14 within 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 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. Alamos Gold is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AGI's full-year earnings has moved 28.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, AGI has returned 27.3% so far this year. At the same time, Basic Materials stocks have gained an average of 3.4%. This means that Alamos Gold is outperforming the sector as a whole this year.
One other Basic Materials stock that has outperformed the sector so far this year is ArcelorMittal (MT). The stock is up 7.9% year-to-date.
The consensus estimate for ArcelorMittal's current year EPS has increased 45.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Alamos Gold belongs to the Mining - Gold industry, a group that includes 37 individual stocks and currently sits at #65 in the Zacks Industry Rank. On average, stocks in this group have gained 20.3% this year, meaning that AGI is performing better in terms of year-to-date returns.
In contrast, ArcelorMittal falls under the Steel - Producers industry. Currently, this industry has 24 stocks and is ranked #25. Since the beginning of the year, the industry has moved +16.3%.
Alamos Gold and ArcelorMittal could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.
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