Kirkland Lake Gold (KL - Free Report) closed at $44.94 in the latest trading session, marking a +0.31% move from the prior day. This change outpaced the S&P 500's 1.23% loss on the day. Meanwhile, the Dow lost 1.28%, and the Nasdaq, a tech-heavy index, lost 1.13%.
Coming into today, shares of the gold producer had lost 8.12% in the past month. In that same time, the Basic Materials sector gained 2.07%, while the S&P 500 gained 1.95%.
KL will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.79, up 182.14% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $389.52 million, up 74.91% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.36 per share and revenue of $1.33 billion. These totals would mark changes of +73.53% and +44.78%, respectively, from last 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.02% higher. KL currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, KL is currently trading at a Forward P/E ratio of 19.01. Its industry sports an average Forward P/E of 29.77, so we one might conclude that KL is trading at a discount comparatively.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 19, which puts it in the top 8% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.