For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Kirkland Lake Gold one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
Kirkland Lake Gold is a member of our Basic Materials group, which includes 248 different companies and currently sits at #12 in 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 9.66% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that KL has returned about 77.19% since the start of the calendar year. Meanwhile, stocks in the Basic Materials group have gained about 14.42% on average. This shows that Kirkland Lake Gold is outperforming its peers so far this year.
Looking more specifically, KL belongs to the Mining - Gold industry, which includes 32 individual stocks and currently sits at #26 in the Zacks Industry Rank. Stocks in this group have gained about 39.47% so far this year, so KL is performing better this group in terms of year-to-date returns.
Investors with an interest in Basic Materials stocks should continue to track KL. The stock will be looking to continue its solid performance.
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Has Kirkland Lake Gold (KL) Outpaced Other Basic Materials Stocks This Year?
For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Kirkland Lake Gold one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
Kirkland Lake Gold is a member of our Basic Materials group, which includes 248 different companies and currently sits at #12 in 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 9.66% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that KL has returned about 77.19% since the start of the calendar year. Meanwhile, stocks in the Basic Materials group have gained about 14.42% on average. This shows that Kirkland Lake Gold is outperforming its peers so far this year.
Looking more specifically, KL belongs to the Mining - Gold industry, which includes 32 individual stocks and currently sits at #26 in the Zacks Industry Rank. Stocks in this group have gained about 39.47% so far this year, so KL is performing better this group in terms of year-to-date returns.
Investors with an interest in Basic Materials stocks should continue to track KL. The stock will be looking to continue its solid performance.