Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has Agnico Eagle Mines (AEM) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Agnico Eagle Mines is a member of the Basic Materials sector. This group includes 237 individual stocks and currently holds a Zacks Sector Rank of #12. 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. Agnico Eagle Mines is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AEM's full-year earnings has moved 8.5% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, AEM has moved about 40.7% on a year-to-date basis. In comparison, Basic Materials companies have returned an average of -2.4%. As we can see, Agnico Eagle Mines is performing better than its sector in the calendar year.
Another stock in the Basic Materials sector, Lundin Mining (LUNMF), has outperformed the sector so far this year. The stock's year-to-date return is 23.2%.
Over the past three months, Lundin Mining's consensus EPS estimate for the current year has increased 8.8%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Agnico Eagle Mines is a member of the Mining – Gold industry, which includes 37 individual companies and currently sits at #56 in the Zacks Industry Rank. This group has gained an average of 22.9% so far this year, so AEM is performing better in this area.
Lundin Mining, however, belongs to the Mining – Non Ferrous industry. Currently, this 12-stock industry is ranked #65. The industry has moved +16.6% so far this year.
Agnico Eagle Mines and Lundin Mining could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.
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Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report
Lundin Mining Corp. (LUNMF) : Free Stock Analysis Report
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