Kinross Gold (KGC) closed at $8.89 in the latest trading session, marking a -1.77% move from the prior day. This change lagged the S&P 500’s 0.96% loss on the day. Elsewhere, the Dow lost 0.48%, while the tech-heavy Nasdaq lost 2.22%.
Coming into today, shares of the gold mining company had gained 3.78% in the past month. In that same time, the Basic Materials sector lost 4.09%, while the S&P 500 lost 4.04%.
Wall Street will be looking for positivity from KGC as it approaches its next earnings report date. The company is expected to report EPS of $0.20, up 150% from the prior-year quarter.
KGC’s full-year Zacks Consensus Estimates are calling for earnings of $0.71 per share and revenue of $4.17 billion. These results would represent year-over-year changes of +108.82% and +19.31%, respectively.
Investors might also notice recent changes to analyst estimates for KGC. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 4.22% higher. KGC is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, KGC currently has a Forward P/E ratio of 12.82. This represents a discount compared to its industry’s average Forward P/E of 21.88.
The Mining – Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 61, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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