Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is Yamana Gold (AUY - 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.
Yamana Gold is one of 239 companies in the Basic Materials group. The Basic Materials group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. AUY is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AUY's full-year earnings has moved 5.48% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, AUY has returned 25.82% so far this year. Meanwhile, stocks in the Basic Materials group have lost about 12.93% on average. This means that Yamana Gold is performing better than its sector in terms of year-to-date returns.
To break things down more, AUY belongs to the Mining - Gold industry, a group that includes 30 individual companies and currently sits at #15 in the Zacks Industry Rank. On average, this group has gained an average of 27.77% so far this year, meaning that AUY is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Basic Materials stocks should continue to track AUY. The stock will be looking to continue its solid performance.