In the latest trading session, Kinross Gold (KGC - Free Report) closed at $9.11, marking a -0.98% move from the previous day. This move lagged the S&P 500's daily gain of 0.01%. At the same time, the Dow added 0.39%, and the tech-heavy Nasdaq lost 0.36%.
Coming into today, shares of the gold mining company had lost 1.6% in the past month. In that same time, the Basic Materials sector lost 1.85%, while the S&P 500 gained 2.55%.
Investors will be hoping for strength from KGC as it approaches its next earnings release, which is expected to be November 4, 2020. On that day, KGC is projected to report earnings of $0.21 per share, which would represent year-over-year growth of 162.5%.
KGC's full-year Zacks Consensus Estimates are calling for earnings of $0.70 per share and revenue of $4.17 billion. These results would represent year-over-year changes of +105.88% and +19.31%, respectively.
It is also important to note the recent changes to analyst estimates for KGC. Recent revisions tend to reflect the latest 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 3.8% higher. KGC is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, KGC is currently trading at a Forward P/E ratio of 13.09. This valuation marks a discount compared to its industry's average Forward P/E of 18.9.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 74, which puts it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.