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Is MAG Silver (MAG) Stock Outpacing Its Basic Materials Peers This Year?
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Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. MAG Silver (MAG - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
MAG Silver is a member of the Basic Materials sector. This group includes 233 individual stocks and currently holds a Zacks Sector Rank of #10. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. MAG Silver is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for MAG's full-year earnings has moved 0.7% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that MAG has returned about 17.2% since the start of the calendar year. Meanwhile, the Basic Materials sector has returned an average of 5.7% on a year-to-date basis. As we can see, MAG 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 NioCorp Developments Ltd. (NB - Free Report) . The stock has returned 51% year-to-date.
The consensus estimate for NioCorp Developments Ltd.'s current year EPS has increased 15% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, MAG Silver belongs to the Mining - Silver industry, which includes 9 individual stocks and currently sits at #10 in the Zacks Industry Rank. On average, this group has gained an average of 14.8% so far this year, meaning that MAG is performing better in terms of year-to-date returns.
NioCorp Developments Ltd. however, belongs to the Mining - Miscellaneous industry. Currently, this 60-stock industry is ranked #142. The industry has moved +3.2% so far this year.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to MAG Silver and NioCorp Developments Ltd. as they could maintain their solid performance.
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Is MAG Silver (MAG) Stock Outpacing Its Basic Materials Peers This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. MAG Silver (MAG - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
MAG Silver is a member of the Basic Materials sector. This group includes 233 individual stocks and currently holds a Zacks Sector Rank of #10. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. MAG Silver is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for MAG's full-year earnings has moved 0.7% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that MAG has returned about 17.2% since the start of the calendar year. Meanwhile, the Basic Materials sector has returned an average of 5.7% on a year-to-date basis. As we can see, MAG 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 NioCorp Developments Ltd. (NB - Free Report) . The stock has returned 51% year-to-date.
The consensus estimate for NioCorp Developments Ltd.'s current year EPS has increased 15% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, MAG Silver belongs to the Mining - Silver industry, which includes 9 individual stocks and currently sits at #10 in the Zacks Industry Rank. On average, this group has gained an average of 14.8% so far this year, meaning that MAG is performing better in terms of year-to-date returns.
NioCorp Developments Ltd. however, belongs to the Mining - Miscellaneous industry. Currently, this 60-stock industry is ranked #142. The industry has moved +3.2% so far this year.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to MAG Silver and NioCorp Developments Ltd. as they could maintain their solid performance.