In the latest trading session, Kinross Gold (KGC) closed at $7.20, marking a -0.28% move from the previous day. This move lagged the S&P 500's daily gain of 0.5%. At the same time, the Dow lost 0.3%, and the tech-heavy Nasdaq gained 0.95%.
Prior to today's trading, shares of the gold mining company had gained 13.34% over the past month. This has outpaced the Basic Materials sector's gain of 4.12% and the S&P 500's gain of 1.89% in that time.
Investors will be hoping for strength from KGC as it approaches its next earnings release, which is expected to be July 29, 2020. In that report, analysts expect KGC to post earnings of $0.12 per share. This would mark year-over-year growth of 100%.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.51 per share and revenue of $3.69 billion, which would represent changes of +50% and +5.4%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for KGC. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 6.51% lower. KGC is currently a Zacks Rank #3 (Hold).
In terms of valuation, KGC is currently trading at a Forward P/E ratio of 14.08. For comparison, its industry has an average Forward P/E of 26.75, which means KGC is trading at a discount to the group.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 76, putting it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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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Kinross Gold Corporation (KGC) : Free Stock Analysis Report
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