Investors focused on the Basic Materials space have likely heard of Kirkland Lake Gold , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of KL and the rest of the Basic Materials group's stocks.
Kirkland Lake Gold is one of 236 companies in the Basic Materials group. The Basic Materials group currently sits at #3 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. KL is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for KL's full-year earnings has moved 9.91% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, KL has moved about 10.98% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have lost about 0.20% on average. As we can see, Kirkland Lake Gold is performing better than its sector in the calendar year.
Looking more specifically, KL belongs to the Mining - Gold industry, a group that includes 32 individual stocks and currently sits at #54 in the Zacks Industry Rank. Stocks in this group have gained about 40.34% so far this year, so KL is slightly underperforming its industry this group in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to KL as it looks to continue its solid performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Investors focused on the Basic Materials space have likely heard of Kirkland Lake Gold , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of KL and the rest of the Basic Materials group's stocks.
Kirkland Lake Gold is one of 236 companies in the Basic Materials group. The Basic Materials group currently sits at #3 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. KL is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for KL's full-year earnings has moved 9.91% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, KL has moved about 10.98% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have lost about 0.20% on average. As we can see, Kirkland Lake Gold is performing better than its sector in the calendar year.
Looking more specifically, KL belongs to the Mining - Gold industry, a group that includes 32 individual stocks and currently sits at #54 in the Zacks Industry Rank. Stocks in this group have gained about 40.34% so far this year, so KL is slightly underperforming its industry this group in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to KL as it looks to continue its solid performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>