Are Basic Materials Stocks Lagging Agnico Eagle Mines (AEM) This Year?

For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Agnico Eagle Mines (AEM) 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? Let's take a closer look at the stock's year-to-date performance to find out.Agnico Eagle Mines is a member of the Basic Materials sector. This group includes 234 individual stocks and currently holds a Zacks Sector Rank of #12. 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 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. Agnico Eagle Mines is currently sporting a Zacks Rank of #2 (Buy).Over the past 90 days, the Zacks Consensus Estimate for AEM's full-year earnings has moved 11.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.Based on the latest available data, AEM has gained about 52.4% so far this year. At the same time, Basic Materials stocks have lost an average of 4.3%. This means that Agnico Eagle Mines is outperforming the sector as a whole this year.Axalta Coating Systems (AXTA) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 17.5%.Over the past three months, Axalta Coating Systems' consensus EPS estimate for the current year has increased 4.8%. The stock currently has a Zacks Rank #2 (Buy).To break things down more, Agnico Eagle Mines belongs to the Mining - Gold industry, a group that includes 39 individual companies and currently sits at #121 in the Zacks Industry Rank. This group has gained an average of 14.4% so far this year, so AEM is performing better in this area.In contrast, Axalta Coating Systems falls under the Chemical - Specialty industry. Currently, this industry has 33 stocks and is ranked #182. Since the beginning of the year, the industry has moved -12.3%.Investors interested in the Basic Materials sector may want to keep a close eye on Agnico Eagle Mines and Axalta Coating Systems as they attempt to continue their solid performance.Free Today: Profiting from The Future’s Brightest Energy SourceThe demand for electricity is growing exponentially. At the same time, we’re working to reduce our dependence on fossil fuels like oil and natural gas. Nuclear energy is an ideal replacement.Leaders from the US and 21 other countries recently committed to TRIPLING the world’s nuclear energy capacities. This aggressive transition could mean tremendous profits for nuclear-related stocks – and investors who get in on the action early enough.Our urgent report, Atomic Opportunity: Nuclear Energy's Comeback, explores the key players and technologies driving this opportunity, including 3 standout stocks poised to benefit the most.Download Atomic Opportunity: Nuclear Energy's Comeback free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Agnico Eagle Mines Limited (AEM): Free Stock Analysis Report Axalta Coating Systems Ltd. (AXTA): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks