Investors focused on the Basic Materials space have likely heard of Lithium Americas (LAC - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of LAC and the rest of the Basic Materials group's stocks.
Lithium Americas is a member of the Basic Materials sector. This group includes 238 individual stocks and currently holds a Zacks Sector Rank of #14. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. LAC is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for LAC's full-year earnings has moved 1.57% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, LAC has moved about 37.85% on a year-to-date basis. At the same time, Basic Materials stocks have gained an average of 13.93%. As we can see, Lithium Americas is performing better than its sector in the calendar year.
Breaking things down more, LAC is a member of the Chemical - Diversified industry, which includes 42 individual companies and currently sits at #208 in the Zacks Industry Rank. On average, stocks in this group have gained 9.13% this year, meaning that LAC 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 LAC as it looks to continue its solid performance.