Kinross Gold (KGC) closed at $6.71 in the latest trading session, marking a -1.9% move from the prior day. This change was narrower than the S&P 500’s daily loss of 2.59%. Meanwhile, the Dow lost 2.72%, and the Nasdaq, a tech-heavy index, lost 2.19%.
Wall Street will be looking for positivity from KGC as it approaches its next earnings report date. This is expected to be July 30, 2020. On that day, KGC is projected to report earnings of $0.12 per share, which would represent year-over-year growth of 100%.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.51 per share and revenue of $3.69 billion. These totals would mark changes of +50% and +5.4%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for KGC. Recent revisions tend to reflect the latest 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. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 6.51% lower. KGC is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that KGC has a Forward P/E ratio of 13.34 right now. This represents a discount compared to its industry’s average Forward P/E of 24.62.
The Mining – Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 84, putting it in the top 34% 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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