Kirkland Lake Gold (KL) closed at $49.45 in the latest trading session, marking a -0.38% move from the prior day. This change was narrower than the S&P 500's 0.84% loss on the day. At the same time, the Dow lost 0.53%, and the tech-heavy Nasdaq lost 1.47%.
Coming into today, shares of the gold producer had gained 4.11% in the past month. In that same time, the Basic Materials sector gained 8.33%, while the S&P 500 gained 5.2%.
KL will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.79, up 182.14% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $389.52 million, up 74.91% from the year-ago period.
KL's full-year Zacks Consensus Estimates are calling for earnings of $2.38 per share and revenue of $1.33 billion. These results would represent year-over-year changes of +75% and +44.78%, respectively.
Investors should also note any recent changes to analyst estimates for KL. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.2% higher. KL is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, KL currently has a Forward P/E ratio of 20.83. This valuation marks a discount compared to its industry's average Forward P/E of 32.96.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 14, putting it in the top 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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