After three lackluster years, gold prices finally seem to have found solid ground in 2016. So far, worries over the global economy, Brexit-induced volatile equity markets, the Fed’s stance to maintain steady interest rates and the introduction of negative interest rates by several central banks escalated the safe haven appeal of gold. Moreover, gold prices are seasonally stronger in the back half of the year aided by retail demand, due to festival and wedding related buying activities in countries like India and China.

Lately, the speculation regarding a Fed rate hike this year has been stirred up as there has been an increase in economic data. Further, a stronger U.S. dollar has put pressure on gold prices of late, dragging the prices below the psychological level of $1,300 an ounce. Nevertheless, the yellow metal has gained 20% year to date.

As per the Zacks Industry classification, the mining industry is grouped under the Basic Material sector – one of the 16 broad Zacks sectors. As of Nov 1, the 75% of the companies in this sector that have reported so far have put up a 7.5% increase in earnings. The overall earnings growth graph so far has been encouraging for this quarter with total 66.4% of the companies in the S&P 500 logging a growth of 1.9%.

Taking into consideration the estimates from the still-to-come 168 index members, total earnings in the quarter is now anticipated to inch up 2.1% year over year on the back of 1.4% higher revenues. This compares favorably with the decline of 2.8% in the second quarter on flat revenues. Though the growth rate is meager, but compared to the declines for five consecutive quarters, this is definitely a positive sign. (Read more: Q4 Earnings Estimates Coming Down).

Let’s see what’s in store for the gold miners that are set to report quarterly numbers on Nov 3.

B2Gold Corp. (BTG Quick QuoteBTG - Free Report) mainly explores for gold, silver and copper deposits in Nicaragua, Philippines, Namibia, Mali, Colombia, Burkina Faso, Finland and Chile. It will report third-quarter results before the market opens.

Last quarter, the stock had delivered a positive earnings surprise of 50%. The company has an average positive earnings surprise of 16.67% in the trailing four quarters.

B2GOLD CORP Price and EPS Surprise
 

B2GOLD CORP Price and EPS Surprise | B2GOLD CORP Quote

B2Gold recently reported record gold production and revenue for the third quarter and first nine months of 2016. The company is on track for another record year for gold production in 2016. We expect B2Gold to come up with a positive earnings surprise this season backed by its Zacks Rank #3 (Hold) and an  Earnings ESP of +25.00%. Please check our Earnings ESP Filter that enables you to find stocks that are expected to come out with earnings surprises.

Pretium Resources Inc. acquires, explores and develops precious metal resource properties in the Americas. Its mineral interests consist of gold, copper and silver exploration projects. The company is likely to report second-quarter earnings.

Last quarter, the company reported a negative earnings surprise of 50.00%. Pretium Resources has an average negative earnings surprise of 14.58% in the trailing four quarters.

PRETIUM RES INC Price and EPS Surprise
 

PRETIUM RES INC Price and EPS Surprise | PRETIUM RES INC Quote

Pretium Resources’ ESP of 0.00% when combined with a Zacks Rank #3, makes surprise prediction difficult. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Timmins Gold Corp. engages in the acquisition, exploration, development and operation of mineral resource properties in Mexico. It will report its third-quarter results before the market opens.

Last quarter, the company had delivered a negative earnings surprise of 33.33%. It has an average negative earnings surprise of 111.11% over the past four consecutive quarters.

TIMMINS GOLD Price and EPS Surprise