In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $30.11, marking a -1.15% move from the previous day. This change was narrower than the S&P 500's 1.76% loss on the day. Elsewhere, the Dow lost 1.45%, while the tech-heavy Nasdaq lost 1.99%.
Coming into today, shares of the gold and copper mining company had gained 16.35% in the past month. In that same time, the Basic Materials sector gained 3.2%, while the S&P 500 gained 1.56%.
GOLD will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.27, up 80% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.03 billion, up 12.99% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.92 per share and revenue of $12.21 billion. These totals would mark changes of +80.39% and +25.62%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for GOLD. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 1.58% higher. GOLD currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note GOLD's current valuation metrics, including its Forward P/E ratio of 33.26. This represents a premium compared to its industry's average Forward P/E of 25.56.
Meanwhile, GOLD's PEG ratio is currently 16.63. 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 2.06 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 61, putting it in the top 25% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.