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

Zacks Equity Research
·2 mins read

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? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.

Kinross Gold is a member of our Basic Materials group, which includes 236 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. KGC is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for KGC's full-year earnings has moved 23.44% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, KGC has returned 86.29% so far this year. Meanwhile, the Basic Materials sector has returned an average of 5.33% on a year-to-date basis. This shows that Kinross Gold is outperforming its peers so far this year.

Breaking things down more, KGC is a member of the Mining - Gold industry, which includes 32 individual companies and currently sits at #65 in the Zacks Industry Rank. On average, this group has gained an average of 47.68% so far this year, meaning that KGC is performing better in terms of year-to-date returns.

Investors in the Basic Materials sector will want to keep a close eye on KGC as it attempts to continue its solid performance.

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Zacks Investment Research