Yahoo Finance Kinross Gold (KGC) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Kinross Gold (KGC) closed at $5.02, marking a +1.21% move from the previous day. This change outpaced the S&P 500's 0.09% gain on the day. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq lost 4.87%.
Prior to today's trading, shares of the gold mining company had gained 13.76% over the past month. This has outpaced the Basic Materials sector's gain of 1.87% and the S&P 500's gain of 3.31% 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. On that day, Kinross Gold is projected to report earnings of $0.05 per share, which would represent 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 +4.67%, respectively, from the prior year.
Any recent changes to analyst estimates for Kinross Gold should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 2.7% lower. Kinross Gold is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Kinross Gold is currently trading at a Forward P/E ratio of 16.07. Its industry sports an average Forward P/E of 20.75, 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 industry currently has a Zacks Industry Rank of 105, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow KGC in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Kinross Gold Corporation (KGC) : Free Stock Analysis Report
