Is Kinross Gold (KGC) Stock Outpacing Its Basic Materials Peers This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has Kinross Gold (KGC) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.Kinross Gold is a member of the Basic Materials sector. This group includes 234 individual stocks and currently holds a Zacks Sector Rank of #15. 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 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. Kinross Gold is currently sporting a Zacks Rank of #2 (Buy).Over the past 90 days, the Zacks Consensus Estimate for KGC's full-year earnings has moved 17.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.According to our latest data, KGC has moved about 61.5% on a year-to-date basis. Meanwhile, the Basic Materials sector has returned an average of -6.4% on a year-to-date basis. This means that Kinross Gold is performing better than its sector in terms of year-to-date returns.One other Basic Materials stock that has outperformed the sector so far this year is Rayonier Advanced Materials (RYAM). The stock is up 93.3% year-to-date.Over the past three months, Rayonier Advanced Materials' consensus EPS estimate for the current year has increased 77.8%. The stock currently has a Zacks Rank #1 (Strong Buy).Looking more specifically, Kinross Gold belongs to the Mining - Gold industry, which includes 39 individual stocks and currently sits at #82 in the Zacks Industry Rank. On average, stocks in this group have gained 14.2% this year, meaning that KGC is performing better in terms of year-to-date returns.In contrast, Rayonier Advanced Materials falls under the Paper and Related Products industry. Currently, this industry has 11 stocks and is ranked #168. Since the beginning of the year, the industry has moved +40.2%.Investors with an interest in Basic Materials stocks should continue to track Kinross Gold and Rayonier Advanced Materials. These stocks will be looking to continue their solid performance.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.1% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Kinross Gold Corporation (KGC): Free Stock Analysis Report Rayonier Advanced Materials Inc. (RYAM): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
Quelle: Zacks
