The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Alamos Gold (AGI) been one of those stocks this year? A quick glance at the company’s year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
Alamos Gold is one of 239 companies in the Basic Materials group. The Basic Materials group currently sits at #3 within the Zacks Sector Rank. 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. AGI is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for AGI’s full-year earnings has moved 29.59% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, AGI has gained about 28.24% so far this year. Meanwhile, stocks in the Basic Materials group have lost about 6.06% on average. This means that Alamos Gold is outperforming the sector as a whole this year.
Looking more specifically, AGI belongs to the Mining – Gold industry, a group that includes 30 individual stocks and currently sits at #15 in the Zacks Industry Rank. This group has gained an average of 15.95% so far this year, so AGI is performing better in this area.
Investors with an interest in Basic Materials stocks should continue to track AGI. The stock will be looking to continue its solid performance.
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