Investors focused on the Basic Materials space have likely heard of Sandstorm Gold (SAND - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Sandstorm Gold is a member of our Basic Materials group, which includes 239 different companies and currently sits at #7 in 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. SAND is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for SAND's full-year earnings has moved 5.13% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, SAND has gained about 24.16% so far this year. Meanwhile, stocks in the Basic Materials group have lost about 8.72% on average. This shows that Sandstorm Gold is outperforming its peers so far this year.
To break things down more, SAND belongs to the Mining - Gold industry, a group that includes 30 individual companies and currently sits at #86 in the Zacks Industry Rank. On average, stocks in this group have gained 26.51% this year, meaning that SAND is slightly underperforming its industry in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to SAND as it looks to continue its solid performance.