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Is Agnico Eagle Mines (AEM) Outperforming Other Basic Materials Stocks This Year?

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The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Agnico Eagle Mines (AEM - Free Report) been one of those stocks this year? 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 a member of the Basic Materials sector. This group includes 238 individual stocks and currently holds a Zacks Sector Rank of #16. 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 #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for AEM's full-year earnings has moved 15.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the most recent data, AEM has returned 78.6% so far this year. In comparison, Basic Materials companies have returned an average of 17.7%. This means that Agnico Eagle Mines is performing better than its sector in terms of year-to-date returns.

One other Basic Materials stock that has outperformed the sector so far this year is Mosaic (MOS - Free Report) . The stock is up 35.5% year-to-date.

Over the past three months, Mosaic's consensus EPS estimate for the current year has increased 10.4%. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Agnico Eagle Mines belongs to the Mining - Gold industry, which includes 39 individual stocks and currently sits at #86 in the Zacks Industry Rank. On average, stocks in this group have gained 82.3% this year, meaning that AEM is slightly underperforming its industry in terms of year-to-date returns.

On the other hand, Mosaic belongs to the Fertilizers industry. This 6-stock industry is currently ranked #9. The industry has moved +22.2% year to date.

Investors interested in the Basic Materials sector may want to keep a close eye on Agnico Eagle Mines and Mosaic as they attempt to continue their solid performance.


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