The Basic Materials group has plenty of great stocks, but investors should always be looking for companies 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 a member of the Basic Materials sector. This group includes 236 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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 37.60% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
According to our latest data, KGC has moved about 87.13% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have gained about 0.44% on average. As we can see, Kinross Gold is performing better than its sector in the calendar year.
Breaking things down more, KGC is a member of the Mining – Gold industry, which includes 32 individual companies and currently sits at #74 in the Zacks Industry Rank. On average, this group has gained an average of 38.05% so far this year, meaning that KGC is performing better in terms of year-to-date returns.
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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