U.S. Markets open in 27 mins

Kinross Gold (KGC) Outpaces Stock Market Gains: What You Should Know

Zacks Equity Research

Kinross Gold (KGC) closed at $4.69 in the latest trading session, marking a +1.3% move from the prior day. This change outpaced the S&P 500's 0.28% gain on the day. Elsewhere, the Dow gained 0.09%, while the tech-heavy Nasdaq added 0.4%.

Heading into today, shares of the gold mining company had lost 7.77% over the past month, lagging the Basic Materials sector's loss of 4.49% and the S&P 500's loss of 0.14% in that time.

Wall Street will be looking for positivity from KGC as it approaches its next earnings report date. This is expected to be November 6, 2019. In that report, analysts expect KGC to post earnings of $0.07 per share. This would mark year-over-year growth of 275%.

KGC's full-year Zacks Consensus Estimates are calling for earnings of $0.27 per share and revenue of $3.37 billion. These results would represent year-over-year changes of +170% and +5.05%, respectively.

Investors should also note any recent changes to analyst estimates for KGC. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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. Within the past 30 days, our consensus EPS projection has moved 5.03% higher. KGC is currently a Zacks Rank #1 (Strong Buy).

Looking at its valuation, KGC is holding a Forward P/E ratio of 17.24. This represents a discount compared to its industry's average Forward P/E of 31.3.

The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 18, putting it in the top 8% 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.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Kinross Gold Corporation (KGC) : Free Stock Analysis Report
To read this article on Zacks.com click here.