Investors focused on the Basic Materials space have likely heard of Silvercorp Metals (SVM - Free Report) , 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.
Silvercorp Metals is a member of the Basic Materials sector. This group includes 236 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. SVM is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for SVM's full-year earnings has moved 10.53% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, SVM has moved about 45.85% on a year-to-date basis. Meanwhile, the Basic Materials sector has returned an average of 4.32% on a year-to-date basis. As we can see, Silvercorp Metals is performing better than its sector in the calendar year.
Looking more specifically, SVM belongs to the Mining - Miscellaneous industry, a group that includes 42 individual stocks and currently sits at #179 in the Zacks Industry Rank. On average, stocks in this group have gained 14.09% this year, meaning that SVM is performing better in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to SVM as it looks to continue its solid performance.