Kinross Gold Corporation KGC was a big mover last session, as the company saw its shares rise more than 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, trading within a volatile range of $3.88-$4.61 in the past one-month time frame, showed a sharp increase yesterday.
The move came after the company stated that its wholly-owned subsidiary, Kinross Brasil Mineraçao agreed to buy two hydroelectric power plants in Brazil worth $257 million. Further, management has issued updates on its organic development projects as well as full-year 2017 exploration results.
The company has seen a mixed track record when it comes to estimate revisions of two increases and one decrease over the past one month, while the Zacks Consensus Estimate has moved higher over the said time frame. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
Kinross Gold currently has a Zacks Rank #3 (Hold), while its Earnings ESP is 0.00%.
A better-ranked stock in the Mining – Gold industry is Franco-Nevada Corporation FNV, which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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