For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Silvercorp Metals (SVM) one of those stocks right now? 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.
Silvercorp Metals is a member of the Basic Materials sector. This group includes 237 individual stocks and currently holds a Zacks Sector Rank of #5. 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 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. SVM is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for SVM’s full-year earnings has moved 10.53% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
According to our latest data, SVM has moved about 27.69% on a year-to-date basis. In comparison, Basic Materials companies have returned an average of 0.48%. This means that Silvercorp Metals is outperforming the sector as a whole this year.
Breaking things down more, SVM is a member of the Mining – Miscellaneous industry, which includes 42 individual companies and currently sits at #61 in the Zacks Industry Rank. On average, this group has gained an average of 8.88% so far this year, meaning that SVM is performing better in terms of year-to-date returns.
Investors with an interest in Basic Materials stocks should continue to track SVM. The stock will be looking to continue its solid performance.
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