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Barrick Gold (GOLD) Gains But Lags Market: What You Should Know
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Barrick Gold (GOLD - Free Report) closed the most recent trading day at $18.59, moving +0.76% from the previous trading session. This change lagged the S&P 500's 0.83% gain on the day.
Prior to today's trading, shares of the gold and copper mining company had lost 7.1% over the past month. This has was narrower than the Basic Materials sector's loss of 7.98% and lagged the S&P 500's loss of 3.68% in that time.
Wall Street will be looking for positivity from GOLD as it approaches its next earnings report date. The company is expected to report EPS of $0.32, down 21.95% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.22 billion, down 9.09% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.24 per share and revenue of $12.4 billion, which would represent changes of +7.83% and -1.57%, respectively, from the prior year.
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. 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 1.14% lower. GOLD currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, GOLD is holding a Forward P/E ratio of 14.88. This represents a no noticeable deviation compared to its industry's average Forward P/E of 14.88.
It is also worth noting that GOLD currently has a PEG ratio of 7.44. 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 2.69 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 196, putting it in the bottom 23% 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.
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Barrick Gold (GOLD) Gains But Lags Market: What You Should Know
Barrick Gold (GOLD - Free Report) closed the most recent trading day at $18.59, moving +0.76% from the previous trading session. This change lagged the S&P 500's 0.83% gain on the day.
Prior to today's trading, shares of the gold and copper mining company had lost 7.1% over the past month. This has was narrower than the Basic Materials sector's loss of 7.98% and lagged the S&P 500's loss of 3.68% in that time.
Wall Street will be looking for positivity from GOLD as it approaches its next earnings report date. The company is expected to report EPS of $0.32, down 21.95% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.22 billion, down 9.09% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.24 per share and revenue of $12.4 billion, which would represent changes of +7.83% and -1.57%, respectively, from the prior year.
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. 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 1.14% lower. GOLD currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, GOLD is holding a Forward P/E ratio of 14.88. This represents a no noticeable deviation compared to its industry's average Forward P/E of 14.88.
It is also worth noting that GOLD currently has a PEG ratio of 7.44. 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 2.69 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 196, putting it in the bottom 23% 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.