For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
Kinross Gold (KGC)
Based in Ontario, Canada, Kinross Gold Corporation is primarily involved in the exploration and operation of gold mines. It ranks among the top 10 gold mining companies in the world with 2022 production of around 2 million gold equivalent ounces. The company's operations is primarily located in - the Americas (roughly 64% of 2022 production). It holds major assets in Canada, the United States, and is primarily involved in the exploration and operation of gold mines. Kinross also produces and sells silver.
KGC boasts a Momentum Style Score of B and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of Kinross Gold has seen some interesting price action recently; the stock is up 5.9% over the past one week and up 0.2% over the past four weeks. And in the last one-year period, KGC has gained 47.2%. As for the stock's trading volume, 9,315,983 shares on average were traded over the last 20 days.
Momentum investors also pay close attention to a company's earnings. For KGC, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.04 to $0.39 per share for 2023. KGC boasts an average earnings surprise of 31.7%.
KGC should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
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