Kinross Gold (KGC - Free Report) closed the most recent trading day at $4.65, moving -0.21% from the previous trading session. This change lagged the S&P 500's 6.24% gain on the day. Meanwhile, the Dow gained 6.38%, and the Nasdaq, a tech-heavy index, added 5.6%.
Prior to today's trading, shares of the gold mining company had lost 19.1% over the past month. This has was narrower than the Basic Materials sector's loss of 22.34% and the S&P 500's loss of 21.22% in that time.
Investors will be hoping for strength from KGC as it approaches its next earnings release. On that day, KGC is projected to report earnings of $0.10 per share, which would represent year-over-year growth of 42.86%.
KGC's full-year Zacks Consensus Estimates are calling for earnings of $0.49 per share and revenue of $3.69 billion. These results would represent year-over-year changes of +44.12% and +5.48%, respectively.
It is also important to note the recent changes to analyst estimates for KGC. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 12.34% higher. KGC currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that KGC has a Forward P/E ratio of 9.43 right now. This represents a discount compared to its industry's average Forward P/E of 14.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 18, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.