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Is Asanko Gold (GAU) Outperforming Other Basic Materials Stocks This Year?

Investors focused on the Basic Materials space have likely heard of Asanko Gold (GAU), but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.

Asanko Gold is a member of the Basic Materials sector. This group includes 236 individual stocks and currently holds a Zacks Sector Rank of #5. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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. GAU is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for GAU's full-year earnings has moved 40.54% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Our latest available data shows that GAU has returned about 52.63% since the start of the calendar year. Meanwhile, the Basic Materials sector has returned an average of 4.16% on a year-to-date basis. This shows that Asanko Gold is outperforming its peers so far this year.

Looking more specifically, GAU belongs to the Mining - Gold industry, which includes 32 individual stocks and currently sits at #63 in the Zacks Industry Rank. On average, stocks in this group have gained 47.14% this year, meaning that GAU is performing better in terms of year-to-date returns.

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


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