For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Is MAG Silver (MAG) one of those stocks right now? 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.

MAG Silver is one of 235 individual stocks in the Basic Materials sector. Collectively, these companies sit at #14 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. MAG Silver is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for MAG's full-year earnings has moved 25.3% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Our latest available data shows that MAG has returned about 43.8% since the start of the calendar year. Meanwhile, the Basic Materials sector has returned an average of 0.1% on a year-to-date basis. This means that MAG Silver is outperforming the sector as a whole this year.

Another Basic Materials stock, which has outperformed the sector so far this year, is Novozymes A/S (NVZMY). The stock has returned 24.9% year-to-date.

In Novozymes A/S's case, the consensus EPS estimate for the current year increased 0.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, MAG Silver belongs to the Mining - Silver industry, which includes 9 individual stocks and currently sits at #80 in the Zacks Industry Rank. On average, stocks in this group have gained 31.3% this year, meaning that MAG is performing better in terms of year-to-date returns.

On the other hand, Novozymes A/S belongs to the Chemical - Specialty industry. This 33-stock industry is currently ranked #230. The industry has moved -15.9% year to date.

Investors with an interest in Basic Materials stocks should continue to track MAG Silver and Novozymes A/S. These stocks will be looking to continue their solid performance.

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