How to Find Strong Buy Basic Materials Stocks Using the Zacks Rank
It doesn't matter if you're a growth, value, income, or momentum-focused investor -- building a successful investment portfolio takes skill, research, and a little bit of luck.
Should You Buy #1 (Strong Buy)-Ranked Kinross Gold (KGC) for Your Portfolio?
Kinross Gold was upgraded to the Zacks Rank #1 list on October 21, 2023. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
Based in Ontario, Canada, Kinross Gold Corporation is primarily involved in the exploration and operation of gold mines. It ranks among the top 10 gold mining companies in the world with 2022 production of around 2 million gold equivalent ounces. The company's operations is primarily located in - the Americas (roughly 64% of 2022 production). It holds major assets in Canada, the United States, and is primarily involved in the exploration and operation of gold mines. Kinross also produces and sells silver.
Two analysts revised their earnings estimate higher in the last 60 days for fiscal 2023, while the Zacks Consensus Estimate has increased $0.01 to $0.40 per share. KGC also boasts an average earnings surprise of 31.7%.
Earnings are expected to grow 81.8% for the current fiscal year, while revenue is projected to increase 16.1%.
Even more impressive, KGC has gained in value over the past four weeks, up 7.2% compared to the S&P 500's loss of 4%.
Bottom Line
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Kinross Gold could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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