Is Asanko Gold (GAU) Stock Outpacing Its Basic Materials Peers This Year?
Investors focused on the Basic Materials space have likely heard of Asanko Gold (GAU), but is the stock performing well in comparison to the rest of its sector peers? 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.
Asanko Gold is one of 235 individual stocks in the Basic Materials sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. GAU is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for GAU's full-year earnings has moved 40.54% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, GAU has returned 67.37% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 1.53% on average. This means that Asanko Gold is performing better than its sector in terms of year-to-date returns.
To break things down more, GAU belongs to the Mining - Gold industry, a group that includes 31 individual companies and currently sits at #64 in the Zacks Industry Rank. Stocks in this group have gained about 44.18% so far this year, so GAU is performing better this group in terms of year-to-date returns.
Investors in the Basic Materials sector will want to keep a close eye on GAU as it attempts to continue its solid performance.
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