Barrick Gold (GOLD - Free Report) closed the most recent trading day at $15.10, moving +1% from the previous trading session. This move outpaced the S&P 500's daily loss of 2.11%. Meanwhile, the Dow lost 1.54%, and the Nasdaq, a tech-heavy index, lost 0.3%.
Prior to today's trading, shares of the gold and copper mining company had gained 0.67% over the past month. This has outpaced the Basic Materials sector's loss of 10.54% and the S&P 500's loss of 8.19% in that time.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release. In that report, analysts expect Barrick Gold to post earnings of $0.23 per share. This would mark a year-over-year decline of 4.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.02 billion, up 6.76% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $1.03 per share and revenue of $11.86 billion. These results would represent year-over-year changes of -11.21% and -1.02%, respectively.
Any recent changes to analyst estimates for Barrick Gold should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.85% lower. Barrick Gold currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Barrick Gold has a Forward P/E ratio of 14.56 right now. This valuation marks a discount compared to its industry's average Forward P/E of 15.76.
Also, we should mention that GOLD has a PEG ratio of 7.28. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Mining - Gold was holding an average PEG ratio of 2.96 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 166, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Barrick Gold (GOLD - Free Report) closed the most recent trading day at $15.10, moving +1% from the previous trading session. This move outpaced the S&P 500's daily loss of 2.11%. Meanwhile, the Dow lost 1.54%, and the Nasdaq, a tech-heavy index, lost 0.3%.
Prior to today's trading, shares of the gold and copper mining company had gained 0.67% over the past month. This has outpaced the Basic Materials sector's loss of 10.54% and the S&P 500's loss of 8.19% in that time.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release. In that report, analysts expect Barrick Gold to post earnings of $0.23 per share. This would mark a year-over-year decline of 4.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.02 billion, up 6.76% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $1.03 per share and revenue of $11.86 billion. These results would represent year-over-year changes of -11.21% and -1.02%, respectively.
Any recent changes to analyst estimates for Barrick Gold should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.85% lower. Barrick Gold currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Barrick Gold has a Forward P/E ratio of 14.56 right now. This valuation marks a discount compared to its industry's average Forward P/E of 15.76.
Also, we should mention that GOLD has a PEG ratio of 7.28. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Mining - Gold was holding an average PEG ratio of 2.96 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 166, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
Get the latest research report on GOLD - FREE