Kirkland Lake Gold (KL - Free Report) closed the most recent trading day at $43.86, moving -1.22% from the previous trading session. This move lagged the S&P 500's daily gain of 0.29%. Meanwhile, the Dow gained 0.17%, and the Nasdaq, a tech-heavy index, added 0.3%.
Coming into today, shares of the gold producer had lost 2.2% in the past month. In that same time, the Basic Materials sector gained 2.25%, while the S&P 500 gained 2.99%.
Wall Street will be looking for positivity from KL as it approaches its next earnings report date. In that report, analysts expect KL to post earnings of $0.79 per share. This would mark year-over-year growth of 182.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $389.52 million, up 74.91% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.38 per share and revenue of $1.33 billion, which would represent changes of +75% and +44.78%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for KL. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.2% higher. KL is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, KL is holding a Forward P/E ratio of 18.64. Its industry sports an average Forward P/E of 29.49, so we one might conclude that KL is trading at a discount comparatively.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 9, which puts it in the top 4% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.