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Is Kinross Gold (KGC) Outperforming Other Basic Materials Stocks This Year?

Zacks Equity Research
·2-min read

For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Kinross Gold (KGC) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of KGC and the rest of the Basic Materials group's stocks.

Kinross Gold is one of 239 companies in the Basic Materials group. The Basic Materials group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. KGC is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for KGC's full-year earnings has moved 17.43% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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Our latest available data shows that KGC has returned about 38.19% since the start of the calendar year. Meanwhile, stocks in the Basic Materials group have lost about 10.81% on average. As we can see, Kinross Gold is performing better than its sector in the calendar year.

Looking more specifically, KGC belongs to the Mining - Gold industry, a group that includes 30 individual stocks and currently sits at #15 in the Zacks Industry Rank. This group has gained an average of 20.40% so far this year, so KGC is performing better in this area.

Investors with an interest in Basic Materials stocks should continue to track KGC. The stock will be looking to continue its solid performance.


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Zacks Investment Research