Kinross Gold (KGC - Free Report) closed at $4.80 in the latest trading session, marking a -1.03% move from the prior day. This change lagged the S&P 500's daily gain of 0.8%. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, added 1.12%.
Heading into today, shares of the gold mining company had lost 7.79% over the past month, lagging the Basic Materials sector's loss of 1.3% and the S&P 500's loss of 1.07% in that time.
Wall Street will be looking for positivity from KGC as it approaches its next earnings report date. The company is expected to report EPS of $0.07, up 275% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.27 per share and revenue of $3.45 billion. These totals would mark changes of +170% and +7.45%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for KGC. 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.
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. Within the past 30 days, our consensus EPS projection has moved 3.63% higher. KGC currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, KGC currently has a Forward P/E ratio of 18.3. For comparison, its industry has an average Forward P/E of 32.27, which means KGC is trading at a discount to the group.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 9, putting it in the top 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.