For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Alamos Gold (AGI - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Alamos Gold is one of 247 companies in the Basic Materials group. The Basic Materials group currently sits at #10 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 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. AGI is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for AGI's full-year earnings has moved 73.02% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, AGI has moved about 62.22% on a year-to-date basis. At the same time, Basic Materials stocks have gained an average of 4.08%. This shows that Alamos Gold is outperforming its peers so far this year.
Looking more specifically, AGI belongs to the Mining - Gold industry, a group that includes 35 individual stocks and currently sits at #9 in the Zacks Industry Rank. This group has gained an average of 42.19% so far this year, so AGI is performing better in this area.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to AGI as it looks to continue its solid performance.