Barrick Gold (GOLD - Free Report) closed the most recent trading day at $29.59, moving -1.07% from the previous trading session. This move lagged the S&P 500's daily loss of 0.65%. At the same time, the Dow lost 0.77%, and the tech-heavy Nasdaq lost 1.27%.
Prior to today's trading, shares of the gold and copper mining company had gained 14.47% over the past month. This has lagged the Basic Materials sector's gain of 16.74% and outpaced the S&P 500's gain of 7.76% in that time.
GOLD will be looking to display strength as it nears its next earnings release, which is expected to be August 10, 2020. In that report, analysts expect GOLD to post earnings of $0.19 per share. This would mark year-over-year growth of 111.11%. Our most recent consensus estimate is calling for quarterly revenue of $2.66 billion, up 28.77% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.88 per share and revenue of $12.02 billion, which would represent changes of +72.55% and +23.7%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for GOLD. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 10.45% higher within the past month. GOLD is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, GOLD is currently trading at a Forward P/E ratio of 34.15. Its industry sports an average Forward P/E of 26.17, so we one might conclude that GOLD is trading at a premium comparatively.
We can also see that GOLD currently has a PEG ratio of 17.08. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Mining - Gold stocks are, on average, holding a PEG ratio of 3.05 based on yesterday's closing prices.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 84, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow GOLD in the coming trading sessions, be sure to utilize Zacks.com.