Kinross Gold Corporation (KGC), engaged in mining and processing gold and silver ores, is a company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on KGC’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Kinross Gold could be a solid choice for investors.
Current Quarter Estimates for KGC
In the past 30 days, 3 estimates have gone higher for Kinross Gold with 3 downward revisions in the same time period. The trend has been pretty favorable too, with estimates increasing from 1 penny per share 30 days ago, to 2 cents a share today, a move of 100%.
Current Year Estimates for KGC
Meanwhile, Kinross Gold’ current year figures have seen 9 estimates moving higher in the past month, compared to no downward revision. The consensus estimate trend has also seen a boost for this time frame, increasing from 11 cents per share 30 days ago to 14 cents per share today, an increase of 27.3%.
Bottom Line
The stock has also started to move higher lately, adding 42.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.
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