In the latest trading session, Kinross Gold (KGC) closed at $8.75, marking a -1.02% move from the previous day. This change lagged the S&P 500's daily gain of 1.6%. At the same time, the Dow added 1.34%, and the tech-heavy Nasdaq gained 2.26%.
Prior to today's trading, shares of the gold mining company had gained 4.49% over the past month. This has outpaced the Basic Materials sector's loss of 2.77% and the S&P 500's loss of 5.3% in that time.
KGC will be looking to display strength as it nears its next earnings release. In that report, analysts expect KGC to post earnings of $0.20 per share. This would mark year-over-year growth of 150%.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.71 per share and revenue of $4.15 billion. These totals would mark changes of +108.82% and +18.53%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for KGC. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 4.22% higher. KGC is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, KGC is holding a Forward P/E ratio of 12.53. For comparison, its industry has an average Forward P/E of 19.9, which means KGC is trading at a discount to the group.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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