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Barrick Gold (GOLD) Dips More Than Broader Markets: What You Should Know
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Barrick Gold (GOLD - Free Report) closed at $23.47 in the latest trading session, marking a -0.89% move from the prior day. This change lagged the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.57%, and the Nasdaq, a tech-heavy index, added 0.09%.
Prior to today's trading, shares of the gold and copper mining company had gained 3.41% over the past month. This has lagged the Basic Materials sector's gain of 10.66% and the S&P 500's gain of 4.43% in that time.
GOLD will be looking to display strength as it nears its next earnings release, which is expected to be February 18, 2021. In that report, analysts expect GOLD to post earnings of $0.30 per share. This would mark year-over-year growth of 76.47%. Meanwhile, our latest consensus estimate is calling for revenue of $3.11 billion, up 7.83% from the prior-year quarter.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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 0.86% lower. GOLD is currently a Zacks Rank #3 (Hold).
In terms of valuation, GOLD is currently trading at a Forward P/E ratio of 17.98. For comparison, its industry has an average Forward P/E of 12.23, which means GOLD is trading at a premium to the group.
We can also see that GOLD currently has a PEG ratio of 8.99. 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. The Mining - Gold was holding an average PEG ratio of 1.72 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 245, which puts it in the bottom 4% 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.
To follow GOLD in the coming trading sessions, be sure to utilize Zacks.com.
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Barrick Gold (GOLD) Dips More Than Broader Markets: What You Should Know
Barrick Gold (GOLD - Free Report) closed at $23.47 in the latest trading session, marking a -0.89% move from the prior day. This change lagged the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.57%, and the Nasdaq, a tech-heavy index, added 0.09%.
Prior to today's trading, shares of the gold and copper mining company had gained 3.41% over the past month. This has lagged the Basic Materials sector's gain of 10.66% and the S&P 500's gain of 4.43% in that time.
GOLD will be looking to display strength as it nears its next earnings release, which is expected to be February 18, 2021. In that report, analysts expect GOLD to post earnings of $0.30 per share. This would mark year-over-year growth of 76.47%. Meanwhile, our latest consensus estimate is calling for revenue of $3.11 billion, up 7.83% from the prior-year quarter.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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 0.86% lower. GOLD is currently a Zacks Rank #3 (Hold).
In terms of valuation, GOLD is currently trading at a Forward P/E ratio of 17.98. For comparison, its industry has an average Forward P/E of 12.23, which means GOLD is trading at a premium to the group.
We can also see that GOLD currently has a PEG ratio of 8.99. 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. The Mining - Gold was holding an average PEG ratio of 1.72 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 245, which puts it in the bottom 4% 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.
To follow GOLD in the coming trading sessions, be sure to utilize Zacks.com.