Is Endeavour Silver (EXK) Outperforming Other Basic Materials Stocks This Year?
Investors focused on the Basic Materials space have likely heard of Endeavour Silver (EXK), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of EXK and the rest of the Basic Materials group's stocks.
Endeavour Silver is one of 237 individual stocks in the Basic Materials sector. Collectively, these companies sit at #4 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. EXK is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for EXK's full-year earnings has moved 20% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, EXK has gained about 46.89% so far this year. In comparison, Basic Materials companies have returned an average of 4.72%. This means that Endeavour Silver is performing better than its sector in terms of year-to-date returns.
Looking more specifically, EXK belongs to the Mining - Silver industry, a group that includes 11 individual stocks and currently sits at #75 in the Zacks Industry Rank. This group has gained an average of 16.96% so far this year, so EXK is performing better in this area.
Investors with an interest in Basic Materials stocks should continue to track EXK. The stock will be looking 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.