Is AngloGold Ashanti PLC (AU) Outperforming Other Basic Materials Stocks This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. AngloGold Ashanti (AU) 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? 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.
AngloGold Ashanti is a member of the Basic Materials sector. This group includes 240 individual stocks and currently holds a Zacks Sector Rank of #2. 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. AngloGold Ashanti is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for AU's full-year earnings has moved 77.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, AU has moved about 17.9% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have lost about 2.9% on average. This means that AngloGold Ashanti is performing better than its sector in terms of year-to-date returns.
Another Basic Materials stock, which has outperformed the sector so far this year, is Agnico Eagle Mines (AEM). The stock has returned 13.5% year-to-date.
The consensus estimate for Agnico Eagle Mines' current year EPS has increased 2.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, AngloGold Ashanti belongs to the Mining - Gold industry, a group that includes 39 individual companies and currently sits at #48 in the Zacks Industry Rank. On average, this group has gained an average of 6.7% so far this year, meaning that AU is performing better in terms of year-to-date returns. Agnico Eagle Mines is also part of the same industry.
Investors with an interest in Basic Materials stocks should continue to track AngloGold Ashanti and Agnico Eagle Mines. These stocks will be looking to continue their solid performance.
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AngloGold Ashanti PLC (AU) : Free Stock Analysis Report
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