Investors focused on the Basic Materials space have likely heard of Kinross Gold (KGC - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Kinross Gold is one of 246 individual stocks in the Basic Materials sector. Collectively, these companies sit at #15 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. KGC is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for KGC's full-year earnings has moved 21.68% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, KGC has returned 29.32% so far this year. Meanwhile, the Basic Materials sector has returned an average of 10% on a year-to-date basis. This means that Kinross Gold is performing better than its sector in terms of year-to-date returns.
Looking more specifically, KGC belongs to the Mining - Gold industry, which includes 35 individual stocks and currently sits at #64 in the Zacks Industry Rank. On average, stocks in this group have gained 35.79% this year, meaning that KGC is slightly underperforming its industry in terms of year-to-date returns.
KGC will likely be looking to continue its solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to the company.