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Kinross Gold (KGC) Dips More Than Broader Markets: What You Should Know

In the latest trading session, Kinross Gold (KGC) closed at $5.02, marking a -0.59% move from the previous day. This change lagged the S&P 500's 0.04% loss on the day. Elsewhere, the Dow lost 0.14%, while the tech-heavy Nasdaq added 2.14%.

Heading into today, shares of the gold mining company had gained 7.22% over the past month, outpacing the Basic Materials sector's gain of 0.57% and the S&P 500's gain of 5.1% in that time.

Investors will be hoping for strength from Kinross Gold as it approaches its next earnings release, which is expected to be May 9, 2023. In that report, analysts expect Kinross Gold to post earnings of $0.05 per share. This would mark a year-over-year decline of 16.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $856.18 million, up 11.48% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $0.31 per share and revenue of $3.69 billion, which would represent changes of +40.91% and +4.79%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for Kinross Gold. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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, 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. Within the past 30 days, our consensus EPS projection has moved 2.7% lower. 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 16.37. Its industry sports an average Forward P/E of 20.92, so we one might conclude that Kinross Gold is trading at a discount comparatively.

The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 71, putting it in the top 29% 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

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