We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Barrick Gold (GOLD) Gains But Lags Market: What You Should Know
Read MoreHide Full Article
In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $20.31, marking a +0.94% move from the previous day. This move lagged the S&P 500's daily gain of 1.04%. Meanwhile, the Dow gained 0.58%, and the Nasdaq, a tech-heavy index, added 2.52%.
Coming into today, shares of the gold and copper mining company had lost 10.62% in the past month. In that same time, the Basic Materials sector gained 3.59%, while the S&P 500 lost 0.15%.
Investors will be hoping for strength from GOLD as it approaches its next earnings release. On that day, GOLD is projected to report earnings of $0.30 per share, which would represent year-over-year growth of 87.5%. Our most recent consensus estimate is calling for quarterly revenue of $3.15 billion, up 15.89% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $1.30 per share and revenue of $13.3 billion. These results would represent year-over-year changes of +13.04% and +5.58%, respectively.
It is also important to note the recent changes to analyst estimates for GOLD. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 3.6% lower. GOLD is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that GOLD has a Forward P/E ratio of 15.48 right now. This represents a premium compared to its industry's average Forward P/E of 10.58.
Also, we should mention that GOLD has a PEG ratio of 7.74. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. GOLD's industry had an average PEG ratio of 2.64 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 30% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Barrick Gold (GOLD) Gains But Lags Market: What You Should Know
In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $20.31, marking a +0.94% move from the previous day. This move lagged the S&P 500's daily gain of 1.04%. Meanwhile, the Dow gained 0.58%, and the Nasdaq, a tech-heavy index, added 2.52%.
Coming into today, shares of the gold and copper mining company had lost 10.62% in the past month. In that same time, the Basic Materials sector gained 3.59%, while the S&P 500 lost 0.15%.
Investors will be hoping for strength from GOLD as it approaches its next earnings release. On that day, GOLD is projected to report earnings of $0.30 per share, which would represent year-over-year growth of 87.5%. Our most recent consensus estimate is calling for quarterly revenue of $3.15 billion, up 15.89% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $1.30 per share and revenue of $13.3 billion. These results would represent year-over-year changes of +13.04% and +5.58%, respectively.
It is also important to note the recent changes to analyst estimates for GOLD. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 3.6% lower. GOLD is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that GOLD has a Forward P/E ratio of 15.48 right now. This represents a premium compared to its industry's average Forward P/E of 10.58.
Also, we should mention that GOLD has a PEG ratio of 7.74. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. GOLD's industry had an average PEG ratio of 2.64 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 30% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.