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Kirkland Lake Gold (KL) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research

Kirkland Lake Gold (KL) closed at $42.64 in the latest trading session, marking a -1.43% move from the prior day. This move lagged the S&P 500's daily gain of 0.11%. At the same time, the Dow lost 0.09%, and the tech-heavy Nasdaq gained 0.2%.

Coming into today, shares of the gold producer had lost 0.12% in the past month. In that same time, the Basic Materials sector gained 0.04%, while the S&P 500 gained 3.25%.

Investors will be hoping for strength from KL as it approaches its next earnings release. In that report, analysts expect KL to post earnings of $0.94 per share. This would mark year-over-year growth of 80.77%. Meanwhile, our latest consensus estimate is calling for revenue of $414.47 million, up 47.85% from the prior-year quarter.

It is also important to note the recent changes to analyst estimates for KL. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

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Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. KL is holding a Zacks Rank of #3 (Hold) right now.

Digging into valuation, KL currently has a Forward P/E ratio of 13.84. For comparison, its industry has an average Forward P/E of 15.14, which means KL is trading at a discount to the group.

The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 163, which puts it in the bottom 37% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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Zacks Investment Research