Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. 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 239 companies in the Basic Materials group. The Basic Materials group currently sits at #2 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 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. 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 4.3% 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 4.9% since the start of the calendar year. Meanwhile, the Basic Materials sector has returned an average of 2.8% on a year-to-date basis. This shows that Agnico Eagle Mines is outperforming its peers so far this year.
AngloGold (AU - Free Report) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 13.3%.
The consensus estimate for AngloGold's current year EPS has increased 23.1% 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, which includes 40 individual stocks and currently sits at #72 in the Zacks Industry Rank. Stocks in this group have gained about 10.8% so far this year, so AEM is slightly underperforming its industry this group in terms of year-to-date returns. AngloGold is also part of the same industry.
Investors with an interest in Basic Materials stocks should continue to track Agnico Eagle Mines and AngloGold. These stocks will be looking to continue their solid performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. 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 239 companies in the Basic Materials group. The Basic Materials group currently sits at #2 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 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. 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 4.3% 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 4.9% since the start of the calendar year. Meanwhile, the Basic Materials sector has returned an average of 2.8% on a year-to-date basis. This shows that Agnico Eagle Mines is outperforming its peers so far this year.
AngloGold (AU - Free Report) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 13.3%.
The consensus estimate for AngloGold's current year EPS has increased 23.1% 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, which includes 40 individual stocks and currently sits at #72 in the Zacks Industry Rank. Stocks in this group have gained about 10.8% so far this year, so AEM is slightly underperforming its industry this group in terms of year-to-date returns. AngloGold is also part of the same industry.
Investors with an interest in Basic Materials stocks should continue to track Agnico Eagle Mines and AngloGold. These stocks will be looking to continue their solid performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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