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Kinross Gold (KGC) Gains But Lags Market: What You Should Know

Zacks Equity Research
·2 min read

Kinross Gold (KGC) closed at $7.85 in the latest trading session, marking a +0.38% move from the prior day. This change lagged the S&P 500's 1.2% gain on the day. At the same time, the Dow added 0.53%, and the tech-heavy Nasdaq gained 1.64%.

Heading into today, shares of the gold mining company had lost 11.34% over the past month, lagging the Basic Materials sector's loss of 1.35% and the S&P 500's loss of 2.23% in that time.

KGC will be looking to display strength as it nears its next earnings release, which is expected to be November 4, 2020. On that day, KGC is projected to report earnings of $0.21 per share, which would represent year-over-year growth of 162.5%.

For the full year, our Zacks Consensus Estimates are projecting earnings of $0.73 per share and revenue of $4.21 billion, which would represent changes of +114.71% and +20.48%, respectively, from the prior year.

Any recent changes to analyst estimates for KGC should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.24% higher. KGC is currently a Zacks Rank #3 (Hold).

Looking at its valuation, KGC is holding a Forward P/E ratio of 10.73. This represents a discount compared to its industry's average Forward P/E of 15.95.

The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 159, putting it in the bottom 38% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.


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