Kirkland Lake Gold closed at $42.13 in the latest trading session, marking a +1.44% move from the prior day. This move outpaced the S&P 500's daily gain of 0.45%. Elsewhere, the Dow gained 0.29%, while the tech-heavy Nasdaq added 0.75%.
Coming into today, shares of the gold producer had gained 9.81% in the past month. In that same time, the Basic Materials sector gained 3.99%, while the S&P 500 gained 3.84%.
KL will be looking to display strength as it nears its next earnings release. In that report, analysts expect KL to post earnings of $0.57 per share. This would mark year-over-year growth of 90%. Our most recent consensus estimate is calling for quarterly revenue of $283.60 million, up 32.12% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.07 per share and revenue of $1.26 billion, which would represent changes of +52.21% and +38.02%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for KL. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. KL currently has a Zacks Rank of #3 (Hold).
In terms of valuation, KL is currently trading at a Forward P/E ratio of 20.06. This represents a discount compared to its industry's average Forward P/E of 33.94.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 31, putting it in the top 13% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Kirkland Lake Gold (KL) Outpaces Stock Market Gains: What You Should Know
Kirkland Lake Gold closed at $42.13 in the latest trading session, marking a +1.44% move from the prior day. This move outpaced the S&P 500's daily gain of 0.45%. Elsewhere, the Dow gained 0.29%, while the tech-heavy Nasdaq added 0.75%.
Coming into today, shares of the gold producer had gained 9.81% in the past month. In that same time, the Basic Materials sector gained 3.99%, while the S&P 500 gained 3.84%.
KL will be looking to display strength as it nears its next earnings release. In that report, analysts expect KL to post earnings of $0.57 per share. This would mark year-over-year growth of 90%. Our most recent consensus estimate is calling for quarterly revenue of $283.60 million, up 32.12% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.07 per share and revenue of $1.26 billion, which would represent changes of +52.21% and +38.02%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for KL. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. KL currently has a Zacks Rank of #3 (Hold).
In terms of valuation, KL is currently trading at a Forward P/E ratio of 20.06. This represents a discount compared to its industry's average Forward P/E of 33.94.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 31, putting it in the top 13% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.