Is American Lithium (AMLIF) Stock Outpacing Its Basic Materials Peers This Year?

The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has American Lithium Corp. (AMLIF) been one of those stocks this year? 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.American Lithium Corp. is a member of our Basic Materials group, which includes 236 different companies and currently sits at #14 in the Zacks Sector Rank. 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. American Lithium Corp. is currently sporting a Zacks Rank of #2 (Buy).Over the past 90 days, the Zacks Consensus Estimate for AMLIF's full-year earnings has moved 75% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.According to our latest data, AMLIF has moved about 43.2% on a year-to-date basis. At the same time, Basic Materials stocks have gained an average of 21.7%. As we can see, American Lithium Corp. is performing better than its sector in the calendar year.Another stock in the Basic Materials sector, Fury Gold Mines Limited (FURY), has outperformed the sector so far this year. The stock's year-to-date return is 71%.Over the past three months, Fury Gold Mines Limited's consensus EPS estimate for the current year has increased 16.7%. The stock currently has a Zacks Rank #2 (Buy).To break things down more, American Lithium Corp. belongs to the Mining - Miscellaneous industry, a group that includes 63 individual companies and currently sits at #154 in the Zacks Industry Rank. On average, this group has gained an average of 27.2% so far this year, meaning that AMLIF is performing better in terms of year-to-date returns. In contrast, Fury Gold Mines Limited falls under the Mining - Gold industry. Currently, this industry has 39 stocks and is ranked #79. Since the beginning of the year, the industry has moved +113.8%.Investors with an interest in Basic Materials stocks should continue to track American Lithium Corp. and Fury Gold Mines Limited. These stocks will be looking to continue their solid performance.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpWant 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 American Lithium Corp. (AMLIF): Free Stock Analysis Report Fury Gold Mines Limited (FURY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks