Kinross Gold (KGC) closed at $7.39 in the latest trading session, marking a +0.14% move from the prior day. This move lagged the S&P 500's daily gain of 0.35%. At the same time, the Dow added 0.23%, and the tech-heavy Nasdaq gained 0.26%.
Heading into today, shares of the gold mining company had gained 3.65% over the past month, lagging the Basic Materials sector's gain of 9.52% and outpacing the S&P 500's gain of 3.27% in that time.
Wall Street will be looking for positivity from KGC as it approaches its next earnings report date. The company is expected to report EPS of $0.23, up 76.92% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.72 per share and revenue of $4.22 billion, which would represent changes of +111.76% and +20.66%, respectively, from the prior year.
Any recent changes to analyst estimates for KGC should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.14% lower. KGC is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, KGC is currently trading at a Forward P/E ratio of 10.25. For comparison, its industry has an average Forward P/E of 19.52, which means KGC is trading at a discount to the group.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 230, which puts it in the bottom 10% 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.
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