Here's Why Kinross Gold (KGC) is a Strong Momentum Stock
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
Kinross Gold (KGC)
Based in Ontario, Canada, Kinross Gold Corporation is primarily involved in the exploration and operation of gold mines. It ranks among the top 10 gold mining companies in the world with 2022 production of around 2 million gold equivalent ounces. The company's operations is primarily located in - the Americas (roughly 64% of 2022 production). It holds major assets in Canada, the United States, and is primarily involved in the exploration and operation of gold mines. Kinross also produces and sells silver.
KGC sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of A, and has a VGM Score of A. The stock is up 7.5% and up 1.5% over the past one-week and four-week period, respectively, and Kinross Gold has gained 59% in the last one-year period as well. Additionally, an average of 12,036,061 shares were traded over the last 20 trading sessions.
Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $0.01 to $0.40 per share. KGC boasts an average earnings surprise of 31.7%.
KGC should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
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Kinross Gold Corporation (KGC) : Free Stock Analysis Report
