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Has Silvercorp Metals (SVM) Outpaced Other Basic Materials Stocks This Year?

Investors focused on the Basic Materials space have likely heard of Silvercorp Metals (SVM), 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 SVM and the rest of the Basic Materials group's stocks.

Silvercorp Metals is a member of our Basic Materials group, which includes 235 different companies and currently sits at #13 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 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. SVM is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for SVM's full-year earnings has moved 14.29% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, SVM has moved about 2.47% on a year-to-date basis. At the same time, Basic Materials stocks have gained an average of 17.93%. This means that Silvercorp Metals is outperforming the sector as a whole this year.

Looking more specifically, SVM belongs to the Mining - Miscellaneous industry, a group that includes 42 individual stocks and currently sits at #206 in the Zacks Industry Rank. Stocks in this group have gained about 25.29% so far this year, so SVM is slightly underperforming its industry this group in terms of year-to-date returns.

Going forward, investors interested in Basic Materials stocks should continue to pay close attention to SVM as it looks to continue its solid performance.

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