Kinross Gold (KGC) closed the most recent trading day at $7.63, moving +1.46% from the previous trading session. This move outpaced the S&P 500’s daily loss of 0.35%. Meanwhile, the Dow lost 0.41%, and the Nasdaq, a tech-heavy index, lost 0.07%.
Heading into today, shares of the gold mining company had 0% over the past month, lagging the Basic Materials sector’s gain of 11.32% and the S&P 500’s gain of 3.21% in that time.
Investors will be hoping for strength from KGC as it approaches its next earnings release. The company is expected to report EPS of $0.23, up 76.92% from the prior-year quarter.
KGC’s full-year Zacks Consensus Estimates are calling for earnings of $0.72 per share and revenue of $4.22 billion. These results would represent year-over-year changes of +111.76% and +20.66%, respectively.
Investors should also note any recent changes to analyst estimates for KGC. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 2.14% lower. KGC is currently a Zacks Rank #3 (Hold).
In terms of valuation, KGC is currently trading at a Forward P/E ratio of 10.44. Its industry sports an average Forward P/E of 20.18, so we one might conclude that KGC is trading at a discount comparatively.
The Mining – Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 216, which puts it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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