Kirkland Lake Gold (KL) closed the most recent trading day at $35.54, moving -0.11% from the previous trading session. This change lagged the S&P 500's daily gain of 0.7%. At the same time, the Dow added 0.58%, and the tech-heavy Nasdaq gained 0.69%.
Coming into today, shares of the gold producer had gained 9.58% in the past month. In that same time, the Basic Materials sector gained 3.33%, while the S&P 500 gained 1.95%.
Wall Street will be looking for positivity from KL as it approaches its nex t earnings report date. On that day, KL is projected to report earnings of $0.55 per share, which would represent year-over-year growth of 120%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $312.21 million, up 57.49% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2 per share and revenue of $1.17 billion, which would represent changes of +47.06% and +27.48%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for KL. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 35.53% higher within the past month. KL currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note KL's current valuation metrics, including its Forward P/E ratio of 17.77. For comparison, its industry has an average Forward P/E of 35.4, which means KL is trading at a discount to the group.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 48, which puts it in the top 19% 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.
To follow KL in the coming trading sessions, be sure to utilize Zacks.com.
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