Kirkland Lake Gold (KL - Free Report) closed the most recent trading day at $44.39, moving +1.58% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.15%. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq lost 0.24%.
Heading into today, shares of the gold producer had gained 4.25% over the past month, outpacing the Basic Materials sector's gain of 0.71% and the S&P 500's gain of 3.88% in that time.
Investors will be hoping for strength from KL as it approaches its next earnings release. On that day, KL is projected to report earnings of $0.94 per share, which would represent year-over-year growth of 80.77%. 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. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 5.44% lower. KL is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, KL is currently trading at a Forward P/E ratio of 13.98. Its industry sports an average Forward P/E of 16.07, 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 186, which puts it in the bottom 28% 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.
To follow KL in the coming trading sessions, be sure to utilize Zacks.com.