In the latest trading session, Kinross Gold (KGC) closed at $4.88, marking a +0.21% move from the previous day. This move outpaced the S&P 500's daily loss of 0.37%. Meanwhile, the Dow lost 0.32%, and the Nasdaq, a tech-heavy index, lost 1.18%.
Coming into today, shares of the gold mining company had lost 4.7% in the past month. In that same time, the Basic Materials sector gained 2.46%, while the S&P 500 gained 7.18%.
Wall Street will be looking for positivity from Kinross Gold as it approaches its next earnings report date. On that day, Kinross Gold is projected to report earnings of $0.09 per share, which would represent year-over-year growth of 200%. Our most recent consensus estimate is calling for quarterly revenue of $828.38 million, up 0.84% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.35 per share and revenue of $3.96 billion, which would represent changes of +59.09% and +12.35%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Kinross Gold. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 6.93% higher. Kinross Gold is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Kinross Gold is holding a Forward P/E ratio of 13.8. This valuation marks a discount compared to its industry's average Forward P/E of 21.57.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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