In the latest trading session, Kinross Gold (KGC) closed at $6.22, marking a -1.58% move from the previous day. This move lagged the S&P 500’s daily gain of 2.62%. Elsewhere, the Dow gained 3.16%, while the tech-heavy Nasdaq added 2.06%.
KGC will be looking to display strength as it nears its next earnings release. On that day, KGC is projected to report earnings of $0.12 per share, which would represent year-over-year growth of 100%.
KGC’s full-year Zacks Consensus Estimates are calling for earnings of $0.55 per share and revenue of $3.63 billion. These results would represent year-over-year changes of +61.76% and +3.92%, respectively.
Any recent changes to analyst estimates for KGC should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.63% higher. KGC is currently a Zacks Rank #2 (Buy).
Looking at its valuation, KGC is holding a Forward P/E ratio of 11.52. Its industry sports an average Forward P/E of 21.49, 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 15, which puts it in the top 6% 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.
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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