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Is Kinross Gold (KGC) Outperforming Other Basic Materials Stocks This Year?

Zacks Equity Research

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? Let's take a closer look at the stock's year-to-date performance to find out.

Kinross Gold is a member of the Basic Materials sector. This group includes 247 individual stocks and currently holds a Zacks Sector Rank of #14. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. KGC is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for KGC's full-year earnings has moved 98.13% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the most recent data, KGC has returned 47.84% so far this year. In comparison, Basic Materials companies have returned an average of 4.38%. This means that Kinross Gold is performing better than its sector in terms of year-to-date returns.

Looking more specifically, KGC belongs to the Mining - Gold industry, which includes 35 individual stocks and currently sits at #11 in the Zacks Industry Rank. On average, this group has gained an average of 39.91% so far this year, meaning that KGC is performing better in terms of year-to-date returns.

Investors with an interest in Basic Materials stocks should continue to track KGC. The stock will be looking to continue its solid performance.


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