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Is Yamana Gold (AUY) Outperforming Other Basic Materials Stocks This Year?

Zacks Equity Research

Investors focused on the Basic Materials space have likely heard of Yamana Gold (AUY), 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.

Yamana Gold is a member of the Basic Materials sector. This group includes 247 individual stocks and currently holds a Zacks Sector Rank of #12. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. AUY is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for AUY's full-year earnings has moved 150% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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Our latest available data shows that AUY has returned about 46.19% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 11.01%. This shows that Yamana Gold is outperforming its peers so far this year.

To break things down more, AUY belongs to the Mining - Gold industry, a group that includes 32 individual companies and currently sits at #8 in the Zacks Industry Rank. Stocks in this group have gained about 43.86% so far this year, so AUY is performing better this group in terms of year-to-date returns.

Investors with an interest in Basic Materials stocks should continue to track AUY. The stock will be looking to continue its solid performance.


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