Kirkland Lake Gold (KL - Free Report) closed the most recent trading day at $44.07, moving +0.3% from the previous trading session. The stock traded in line with S&P 500. Meanwhile, the Dow gained 0.27%, and the Nasdaq, a tech-heavy index, added 0.3%.
Heading into today, shares of the gold producer had gained 4.59% over the past month, lagging the Basic Materials sector's gain of 5.75% and outpacing the S&P 500's gain of 2.69% in that time.
KL will be looking to display strength as it nears its next earnings release. On that day, KL is projected to report earnings of $0.75 per share, which would represent year-over-year growth of 44.23%. Our most recent consensus estimate is calling for quarterly revenue of $383.60 million, up 36.84% from the year-ago period.
Investors might also notice recent changes to analyst estimates for KL. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 1.12% higher. KL currently has a Zacks Rank of #2 (Buy).
Digging into valuation, KL currently has a Forward P/E ratio of 16.21. Its industry sports an average Forward P/E of 36.45, 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 97, which puts it in the top 39% 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.