In the latest trading session, Kirkland Lake Gold (KL) closed at $47.33, marking a -1.97% move from the previous day. This change lagged the S&P 500's 0.09% gain on the day. Meanwhile, the Dow gained 0.26%, and the Nasdaq, a tech-heavy index, lost 0.17%.
Coming into today, shares of the gold producer had gained 2.09% in the past month. In that same time, the Basic Materials sector gained 1.74%, while the S&P 500 gained 4.92%.
Wall Street will be looking for positivity from KL as it approaches its next earnings report date. On that day, KL is projected to report earnings of $0.79 per share, which would represent year-over-year growth of 182.14%. Our most recent consensus estimate is calling for quarterly revenue of $352.92 million, up 58.47% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.31 per share and revenue of $1.29 billion, which would represent changes of +69.85% and +41.29%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for KL. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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 3.94% higher. KL is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note KL's current valuation metrics, including its Forward P/E ratio of 20.9. For comparison, its industry has an average Forward P/E of 34.16, which means KL 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 9, which puts it in the top 4% 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.
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Kirkland Lake Gold Ltd. (KL) : Free Stock Analysis Report
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