Yahoo Finance Why This 1 Momentum Stock Could Be a Great Addition to Your Portfolio
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
Kinross Gold (KGC)
Based in Ontario, Canada, Kinross Gold Corporation is involved in the exploration and operation of gold mines. It ranks among the top 10 gold mining companies in the world, with a 2023 production of around 2.1 million gold equivalent ounces. The company's operations are primarily located in - the Americas (roughly 71% of 2023 production). It holds major assets in Canada and the United States. It is mainly involved in the exploration and operation of gold mines. Kinross also produces and sells silver.
KGC sits at a Zacks Rank #2 (Buy), holds a Momentum Style Score of A, and has a VGM Score of A. The stock is up 8.2% and up 2.5% over the past one-week and four-week period, respectively, and Kinross Gold has gained 74.1% in the last one-year period as well. Additionally, an average of 15,697,603 shares were traded over the last 20 trading sessions.
Momentum investors also pay close attention to a company's earnings. For KGC, seven analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.12 to $0.52 per share for 2024. KGC boasts an average earnings surprise of 46%.
Investors should take the time to consider KGC for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Kinross Gold Corporation (KGC) : Free Stock Analysis Report
