Investors focused on the Basic Materials space have likely heard of Agnico Eagle Mines (AEM), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.Agnico Eagle Mines is one of 239 companies in the Basic Materials group. The Basic Materials group currently sits at #5 within 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. AEM is currently sporting a Zacks Rank of #2 (Buy).The Zacks Consensus Estimate for AEM's full-year earnings has moved 28.83% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.Based on the latest available data, AEM has gained about 10.39% so far this year. In comparison, Basic Materials companies have returned an average of -12.68%. This means that Agnico Eagle Mines is outperforming the sector as a whole this year.To break things down more, AEM belongs to the Mining - Gold industry, a group that includes 30 individual companies and currently sits at #13 in the Zacks Industry Rank. On average, this group has gained an average of 32.16% so far this year, meaning that AEM is slightly underperforming its industry in terms of year-to-date returns.Investors with an interest in Basic Materials stocks should continue to track AEM. The stock will be looking to continue its solid performance.Want 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 Agnico Eagle Mines Limited (AEM): Free Stock Analysis Report To read this article on Zacks.com click here.