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Has Asanko Gold (GAU) 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 Asanko Gold (GAU) one of those stocks right now? 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.

Asanko Gold is a member of our Basic Materials group, which includes 236 different companies and currently sits at #2 in the Zacks Sector Rank. 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. GAU is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for GAU's full-year earnings has moved 143.75% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, GAU has gained about 71.02% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 1.62% on average. This shows that Asanko Gold is outperforming its peers so far this year.

Looking more specifically, GAU belongs to the Mining - Gold industry, a group that includes 31 individual stocks and currently sits at #77 in the Zacks Industry Rank. This group has gained an average of 46.78% so far this year, so GAU is performing better in this area.

Going forward, investors interested in Basic Materials stocks should continue to pay close attention to GAU as it looks to continue its solid performance.


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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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