The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Kinross Gold (KGC) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
Kinross Gold is a member of the Basic Materials sector. This group includes 243 individual stocks and currently holds a Zacks Sector Rank of #14. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. KGC is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for KGC's full-year earnings has moved 6.08% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that KGC has returned about 8.44% since the start of the calendar year. At the same time, Basic Materials stocks have lost an average of 4.74%. This means that Kinross Gold is outperforming the sector as a whole this year.
Looking more specifically, KGC belongs to the Mining - Gold industry, which includes 34 individual stocks and currently sits at #68 in the Zacks Industry Rank. Stocks in this group have lost about 1.76% so far this year, so KGC is performing better this group in terms of year-to-date returns.
Investors with an interest in Basic Materials stocks should continue to track KGC. The stock will be looking to continue its solid performance.