Investors focused on the Basic Materials space have likely heard of Kinross Gold (KGC), but is the stock performing well in comparison to the rest of its sector peers? 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 our Basic Materials group, which includes 236 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. 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 23.44% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.
Based on the latest available data, KGC has gained about 96.20% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 3.59% on average. This means that Kinross Gold is outperforming the sector as a whole this year.
Looking more specifically, KGC belongs to the Mining – Gold industry, a group that includes 31 individual stocks and currently sits at #56 in the Zacks Industry Rank. On average, this group has gained an average of 50.91% 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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