Kinross Gold (KGC) closed at $4.85 in the latest trading session, marking a +0.62% move from the prior day. This move outpaced the S&P 500's daily gain of 0.12%. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq lost 4.09%.
Heading into today, shares of the gold mining company had lost 9.57% over the past month, lagging the Basic Materials sector's loss of 1.25% and the S&P 500's gain of 3.98% in that time.
Kinross Gold will be looking to display strength as it nears its next earnings release. In that report, analysts expect Kinross Gold to post earnings of $0.09 per share. This would mark year-over-year growth of 200%. Our most recent consensus estimate is calling for quarterly revenue of $828.38 million, up 0.84% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.35 per share and revenue of $3.96 billion. These totals would mark changes of +59.09% and +12.35%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Kinross Gold. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 14.35% higher within the past month. Kinross Gold currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Kinross Gold is currently trading at a Forward P/E ratio of 13.66. This valuation marks a discount compared to its industry's average Forward P/E of 22.13.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% 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.
To follow KGC in the coming trading sessions, be sure to utilize Zacks.com.
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