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Barrick Gold (GOLD) Stock Sinks As Market Gains: What You Should Know
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Barrick Gold (GOLD - Free Report) closed the most recent trading day at $20.83, moving -1.42% from the previous trading session. This change lagged the S&P 500's daily gain of 0.35%.
Coming into today, shares of the gold and copper mining company had lost 9.04% in the past month. In that same time, the Basic Materials sector lost 1%, while the S&P 500 gained 3.64%.
Investors will be hoping for strength from GOLD as it approaches its next earnings release, which is expected to be August 9, 2021. In that report, analysts expect GOLD to post earnings of $0.25 per share. This would mark year-over-year growth of 8.7%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.92 billion, down 4.4% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.21 per share and revenue of $12.37 billion, which would represent changes of +5.22% and -1.76%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for GOLD. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 0.35% lower within the past month. GOLD is currently a Zacks Rank #3 (Hold).
Digging into valuation, GOLD currently has a Forward P/E ratio of 17.46. This represents a premium compared to its industry's average Forward P/E of 14.15.
We can also see that GOLD currently has a PEG ratio of 8.73. 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 industry currently had an average PEG ratio of 2.33 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 217, which puts it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Stock Sinks As Market Gains: What You Should Know
Barrick Gold (GOLD - Free Report) closed the most recent trading day at $20.83, moving -1.42% from the previous trading session. This change lagged the S&P 500's daily gain of 0.35%.
Coming into today, shares of the gold and copper mining company had lost 9.04% in the past month. In that same time, the Basic Materials sector lost 1%, while the S&P 500 gained 3.64%.
Investors will be hoping for strength from GOLD as it approaches its next earnings release, which is expected to be August 9, 2021. In that report, analysts expect GOLD to post earnings of $0.25 per share. This would mark year-over-year growth of 8.7%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.92 billion, down 4.4% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.21 per share and revenue of $12.37 billion, which would represent changes of +5.22% and -1.76%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for GOLD. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 0.35% lower within the past month. GOLD is currently a Zacks Rank #3 (Hold).
Digging into valuation, GOLD currently has a Forward P/E ratio of 17.46. This represents a premium compared to its industry's average Forward P/E of 14.15.
We can also see that GOLD currently has a PEG ratio of 8.73. 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 industry currently had an average PEG ratio of 2.33 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 217, which puts it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.