The Basic Materials group owns many stocks, but investors should always look for companies that outperform their peers. Is Alamos Gold (AGI) one of these actions at the moment? By taking a look at the performance since the start of the year compared to its base material peers, we might be able to answer this question.
Alamos Gold is a member of our Basic Materials group, which includes 239 different companies and is currently ranked 6th in the Zacks sector. The Zacks sector ranking includes 16 different groups and is listed in order, from best to worst, based on the average Zacks ranking of individual companies in 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 revisions to earnings estimates and favors companies with improving earnings prospects. AGI currently sports a Zacks rank of # 2 (buy).
During the last quarter, the Zacks consensus estimate for AGI’s annual profits increased by 13.64%. This is a sign of an improvement in analyst sentiment and a positive trend in the earnings outlook.
Based on the most recent data, AGI has reported 5.32% so far this year. Meanwhile, the basic materials sector recorded an average of -22.65% on a cumulative basis. This means that Alamos Gold is outperforming the sector as a whole this year.
In more detail, AGI is a member of the gold mining industry, which includes 30 individual companies and currently ranks 19th in the Zacks ranking. On average, the shares of this group rose 1.26% this year, which means that AGI is doing better in terms of returns since the start of the year.
AGI will likely seek to continue its strong performance, so investors interested in the commodities commodity should continue to pay close attention to the company.
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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.