Investors focused on the Basic Materials space have likely heard of Kinross Gold (KGC), but is the stock performing well in comparison to the rest of its sector peers? 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 one of 240 companies in the Basic Materials group. The Basic Materials group currently sits at #12 within the Zacks Sector Rank. 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. KGC is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for KGC's full-year earnings has moved 12.54% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, KGC has returned 2.11% so far this year. Meanwhile, stocks in the Basic Materials group have lost about 31.63% on average. This means that Kinross Gold is performing better than its sector in terms of year-to-date returns.
Breaking things down more, KGC is a member of the Mining - Gold industry, which includes 30 individual companies and currently sits at #16 in the Zacks Industry Rank. This group has lost an average of 10.43% so far this year, so KGC is performing better in this area.
Investors with an interest in Basic Materials stocks should continue to track KGC. The stock will be looking to continue its solid performance.