Is Yamana Gold (AUY) Stock Outpacing Its Basic Materials Peers This Year?
Investors focused on the Basic Materials space have likely heard of Yamana Gold (AUY), 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.
Yamana Gold is a member of our Basic Materials group, which includes 236 different companies and currently sits at #6 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. AUY is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AUY's full-year earnings has moved 51.95% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, AUY has returned 54.94% so far this year. In comparison, Basic Materials companies have returned an average of 5.45%. This means that Yamana Gold is performing better than its sector in terms of year-to-date returns.
To break things down more, AUY belongs to the Mining - Gold industry, a group that includes 32 individual companies and currently sits at #80 in the Zacks Industry Rank. On average, this group has gained an average of 45.52% so far this year, meaning that AUY is performing better in terms of year-to-date returns.
Investors in the Basic Materials sector will want to keep a close eye on AUY as it attempts 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.