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Has Kirkland Lake Gold (KL) Outpaced Other Basic Materials Stocks This Year?

Zacks Equity Research

Investors focused on the Basic Materials space have likely heard of Kirkland Lake Gold (KL), but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.

Kirkland Lake Gold is a member of the Basic Materials sector. This group includes 246 individual stocks and currently holds a Zacks Sector Rank of #14. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. KL is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for KL's full-year earnings has moved 20.28% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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According to our latest data, KL has moved about 87.43% on a year-to-date basis. At the same time, Basic Materials stocks have gained an average of 8.86%. This shows that Kirkland Lake Gold is outperforming its peers so far this year.

Looking more specifically, KL belongs to the Mining - Gold industry, which includes 35 individual stocks and currently sits at #40 in the Zacks Industry Rank. Stocks in this group have gained about 42.11% so far this year, so KL is performing better this group in terms of year-to-date returns.

Investors with an interest in Basic Materials stocks should continue to track KL. The stock will be looking to continue its solid performance.


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Zacks Investment Research