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Barrick Gold (GOLD) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $20.86, marking a -1.93% move from the previous day. This change lagged the S&P 500's daily loss of 0.75%.
Coming into today, shares of the gold and copper mining company had gained 1.14% in the past month. In that same time, the Basic Materials sector gained 0.06%, while the S&P 500 gained 2.74%.
Investors will be hoping for strength from GOLD as it approaches its next earnings release, which is expected to be August 9, 2021. On that day, GOLD is projected to report earnings of $0.26 per share, which would represent year-over-year growth of 13.04%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.8 billion, down 8.26% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $1.24 per share and revenue of $12.51 billion. These results would represent year-over-year changes of +7.83% and -0.66%, respectively.
It is also important to note the 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 1.88% higher. 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 17.19. This represents a premium compared to its industry's average Forward P/E of 14.22.
Also, we should mention that GOLD has a PEG ratio of 8.6. 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. GOLD's industry had an average PEG ratio of 2.03 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 222, putting it in the bottom 13% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Barrick Gold (GOLD) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $20.86, marking a -1.93% move from the previous day. This change lagged the S&P 500's daily loss of 0.75%.
Coming into today, shares of the gold and copper mining company had gained 1.14% in the past month. In that same time, the Basic Materials sector gained 0.06%, while the S&P 500 gained 2.74%.
Investors will be hoping for strength from GOLD as it approaches its next earnings release, which is expected to be August 9, 2021. On that day, GOLD is projected to report earnings of $0.26 per share, which would represent year-over-year growth of 13.04%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.8 billion, down 8.26% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $1.24 per share and revenue of $12.51 billion. These results would represent year-over-year changes of +7.83% and -0.66%, respectively.
It is also important to note the 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 1.88% higher. 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 17.19. This represents a premium compared to its industry's average Forward P/E of 14.22.
Also, we should mention that GOLD has a PEG ratio of 8.6. 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. GOLD's industry had an average PEG ratio of 2.03 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 222, putting it in the bottom 13% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.