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 As Market Dips: What You Should Know
Read MoreHide Full Article
Barrick Gold (GOLD - Free Report) closed at $19 in the latest trading session, marking a +0.96% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.26%. Elsewhere, the Dow lost 0.16%, while the tech-heavy Nasdaq lost 0.04%.
Prior to today's trading, shares of the gold and copper mining company had gained 3.52% over the past month. This has lagged the Basic Materials sector's gain of 6.01% and the S&P 500's gain of 4.82% in that time.
Wall Street will be looking for positivity from Barrick Gold as it approaches its next earnings report date. In that report, analysts expect Barrick Gold to post earnings of $0.30 per share. This would mark a year-over-year decline of 14.29%. Our most recent consensus estimate is calling for quarterly revenue of $3.32 billion, up 1.17% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $1.11 per share and revenue of $11.94 billion. These results would represent year-over-year changes of -3.48% and -5.22%, respectively.
It is also important to note the recent changes to analyst estimates for Barrick Gold. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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 0.89% lower. Barrick Gold currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Barrick Gold is holding a Forward P/E ratio of 16.97. Its industry sports an average Forward P/E of 16.39, so we one might conclude that Barrick Gold is trading at a premium comparatively.
Meanwhile, GOLD's PEG ratio is currently 8.49. 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. Mining - Gold stocks are, on average, holding a PEG ratio of 2.6 based on yesterday's closing prices.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 170, which puts it in the bottom 34% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Barrick Gold (GOLD) Gains As Market Dips: What You Should Know
Barrick Gold (GOLD - Free Report) closed at $19 in the latest trading session, marking a +0.96% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.26%. Elsewhere, the Dow lost 0.16%, while the tech-heavy Nasdaq lost 0.04%.
Prior to today's trading, shares of the gold and copper mining company had gained 3.52% over the past month. This has lagged the Basic Materials sector's gain of 6.01% and the S&P 500's gain of 4.82% in that time.
Wall Street will be looking for positivity from Barrick Gold as it approaches its next earnings report date. In that report, analysts expect Barrick Gold to post earnings of $0.30 per share. This would mark a year-over-year decline of 14.29%. Our most recent consensus estimate is calling for quarterly revenue of $3.32 billion, up 1.17% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $1.11 per share and revenue of $11.94 billion. These results would represent year-over-year changes of -3.48% and -5.22%, respectively.
It is also important to note the recent changes to analyst estimates for Barrick Gold. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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 0.89% lower. Barrick Gold currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Barrick Gold is holding a Forward P/E ratio of 16.97. Its industry sports an average Forward P/E of 16.39, so we one might conclude that Barrick Gold is trading at a premium comparatively.
Meanwhile, GOLD's PEG ratio is currently 8.49. 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. Mining - Gold stocks are, on average, holding a PEG ratio of 2.6 based on yesterday's closing prices.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 170, which puts it in the bottom 34% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.