Are Basic Materials Stocks Lagging Kinross Gold (KGC) This Year?

For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Kinross Gold (KGC) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.

Kinross Gold is a member of our Basic Materials group, which includes 242 different companies and currently sits at #11 in the Zacks Sector Rank. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Kinross Gold is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for KGC's full-year earnings has moved 23% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, KGC has gained about 161.7% so far this year. Meanwhile, the Basic Materials sector has returned an average of 20.7% on a year-to-date basis. This means that Kinross Gold is outperforming the sector as a whole this year.

Another Basic Materials stock, which has outperformed the sector so far this year, is Flexible Solutions International Inc. (FSI). The stock has returned 134.6% year-to-date.

For Flexible Solutions International Inc., the consensus EPS estimate for the current year has increased 29.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Kinross Gold belongs to the Mining - Gold industry, which includes 42 individual stocks and currently sits at #34 in the Zacks Industry Rank. On average, this group has gained an average of 115% so far this year, meaning that KGC is performing better in terms of year-to-date returns.

Flexible Solutions International Inc., however, belongs to the Chemical - Specialty industry. Currently, this 37-stock industry is ranked #187. The industry has moved +0.4% so far this year.

Investors with an interest in Basic Materials stocks should continue to track Kinross Gold and Flexible Solutions International Inc.. These stocks will be looking to continue their solid performance.

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

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research