Kirkland Lake Gold (KL - Free Report) closed at $44.57 in the latest trading session, marking a +1.32% move from the prior day. This move outpaced the S&P 500's daily gain of 0.35%. Elsewhere, the Dow gained 0.24%, while the tech-heavy Nasdaq added 0.56%.
Coming into today, shares of the gold producer had gained 7.19% in the past month. In that same time, the Basic Materials sector gained 5.4%, while the S&P 500 gained 4.69%.
KL will be looking to display strength as it nears its next earnings release. On that day, KL is projected to report earnings of $0.86 per share, which would represent year-over-year growth of 65.38%. Meanwhile, our latest consensus estimate is calling for revenue of $383.60 million, up 36.84% from the prior-year quarter.
Any recent changes to analyst estimates for KL should also be noted by investors. Recent revisions tend to reflect the latest near-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. 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.
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 5.44% lower. KL currently has a Zacks Rank of #3 (Hold).
Digging into valuation, KL currently has a Forward P/E ratio of 14.07. Its industry sports an average Forward P/E of 16.48, 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 151, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.