Investors focused on the Basic Materials space have likely heard of Ternium (TX Quick QuoteTX - 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.

Ternium is one of 252 companies in the Basic Materials group. The Basic Materials group currently sits at #12 within the Zacks Sector Rank. 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 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. TX is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for TX's full-year earnings has moved 31.57% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, TX has gained about 48.83% so far this year. At the same time, Basic Materials stocks have gained an average of 7.06%. This means that Ternium is performing better than its sector in terms of year-to-date returns.

Looking more specifically, TX belongs to the Steel - Producers industry, a group that includes 24 individual stocks and currently sits at #30 in the Zacks Industry Rank. This group has gained an average of 35.90% so far this year, so TX is performing better in this area.

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