Kinross Gold (KGC - Free Report) closed the most recent trading day at $4.80, moving -1.64% from the previous trading session. This change lagged the S&P 500's 0.91% gain on the day. Meanwhile, the Dow gained 0.7%, and the Nasdaq, a tech-heavy index, added 1.02%.
Heading into today, shares of the gold mining company had gained 1.67% over the past month, outpacing the Basic Materials sector's loss of 3.65% and the S&P 500's loss of 2.74% in that time.
KGC will be looking to display strength as it nears its next earnings release, which is expected to be November 6, 2019. On that day, KGC is projected to report earnings of $0.07 per share, which would represent year-over-year growth of 275%.
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 should also note any recent changes to analyst estimates for KGC. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that KGC has a Forward P/E ratio of 18.42 right now. For comparison, its industry has an average Forward P/E of 32.85, 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 8, putting it in the top 4% 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.