Has First Majestic Silver (AG) Outpaced Other Basic Materials Stocks This Year?

The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is First Majestic Silver (AG) 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.

First Majestic Silver is one of 255 individual stocks in the Basic Materials sector. Collectively, these companies sit at #2 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 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. First Majestic Silver is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for AG's full-year earnings has moved 74.8% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, AG has gained about 70.3% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 21.7% on average. As we can see, First Majestic Silver is performing better than its sector in the calendar year.

Another Basic Materials stock, which has outperformed the sector so far this year, is IperionX Limited Sponsored ADR (IPX). The stock has returned 31.4% year-to-date.

For IperionX Limited Sponsored ADR, the consensus EPS estimate for the current year has increased 8.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, First Majestic Silver belongs to the Mining - Silver industry, a group that includes 9 individual stocks and currently sits at #13 in the Zacks Industry Rank. Stocks in this group have gained about 28.6% so far this year, so AG is performing better this group in terms of year-to-date returns.

IperionX Limited Sponsored ADR, however, belongs to the Mining - Miscellaneous industry. Currently, this 73-stock industry is ranked #46. The industry has moved +25.5% so far this year.

Investors with an interest in Basic Materials stocks should continue to track First Majestic Silver and IperionX Limited Sponsored ADR. These stocks will be looking to continue their solid performance.

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This article originally published on Zacks Investment Research (zacks.com).

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