The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Pan American Silver (PAAS - 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.
Pan American Silver is one of 236 companies in the Basic Materials group. The Basic Materials group currently sits at #6 within the Zacks Sector Rank. 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 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. PAAS is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for PAAS's full-year earnings has moved 12.10% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, PAAS has moved about 38.24% on a year-to-date basis. Meanwhile, the Basic Materials sector has returned an average of 1.41% on a year-to-date basis. This means that Pan American Silver is performing better than its sector in terms of year-to-date returns.
To break things down more, PAAS belongs to the Mining - Silver industry, a group that includes 11 individual companies and currently sits at #76 in the Zacks Industry Rank. This group has gained an average of 14.35% so far this year, so PAAS is performing better in this area.
PAAS will likely be looking to continue its solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to the company.