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? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
Kinross Gold is one of 239 companies in the Basic Materials group. The Basic Materials group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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 #1 (Strong Buy).
The Zacks Consensus Estimate for KGC's full-year earnings has moved 18.09% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, KGC has returned 30.80% so far this year. Meanwhile, the Basic Materials sector has returned an average of -26.10% on a year-to-date basis. This means that Kinross Gold is outperforming the sector as a whole this year.
To break things down more, KGC belongs to the Mining - Gold industry, a group that includes 30 individual companies and currently sits at #11 in the Zacks Industry Rank. Stocks in this group have gained about 11.30% so far this year, so KGC is performing better this group in terms of year-to-date returns.
Investors in the Basic Materials sector will want to keep a close eye on KGC as it attempts to continue its solid performance.