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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 at $15.26 in the latest trading session, marking a +1.4% move from the prior day. This move lagged the S&P 500's daily gain of 1.63%. Meanwhile, the Dow gained 1.07%, and the Nasdaq, a tech-heavy index, added 0.3%.
Heading into today, shares of the gold and copper mining company had gained 6.06% over the past month, outpacing the Basic Materials sector's gain of 5.51% and the S&P 500's gain of 2.94% in that time.
Barrick Gold will be looking to display strength as it nears its next earnings release, which is expected to be November 3, 2022. The company is expected to report EPS of $0.13, down 45.83% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.09 billion, up 9.27% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.84 per share and revenue of $11.59 billion, which would represent changes of -27.59% and -3.31%, respectively, from the prior year.
Any recent changes to analyst estimates for Barrick Gold should also be noted by investors. 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.
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 18.69% lower. Barrick Gold is currently sporting a Zacks Rank of #5 (Strong Sell).
Digging into valuation, Barrick Gold currently has a Forward P/E ratio of 17.83. This valuation marks a premium compared to its industry's average Forward P/E of 17.29.
Also, we should mention that GOLD has a PEG ratio of 8.91. 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. Mining - Gold stocks are, on average, holding a PEG ratio of 3.13 based on yesterday's closing prices.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 195, putting it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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Barrick Gold (GOLD) Gains But Lags Market: What You Should Know
Barrick Gold (GOLD - Free Report) closed at $15.26 in the latest trading session, marking a +1.4% move from the prior day. This move lagged the S&P 500's daily gain of 1.63%. Meanwhile, the Dow gained 1.07%, and the Nasdaq, a tech-heavy index, added 0.3%.
Heading into today, shares of the gold and copper mining company had gained 6.06% over the past month, outpacing the Basic Materials sector's gain of 5.51% and the S&P 500's gain of 2.94% in that time.
Barrick Gold will be looking to display strength as it nears its next earnings release, which is expected to be November 3, 2022. The company is expected to report EPS of $0.13, down 45.83% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.09 billion, up 9.27% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.84 per share and revenue of $11.59 billion, which would represent changes of -27.59% and -3.31%, respectively, from the prior year.
Any recent changes to analyst estimates for Barrick Gold should also be noted by investors. 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.
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 18.69% lower. Barrick Gold is currently sporting a Zacks Rank of #5 (Strong Sell).
Digging into valuation, Barrick Gold currently has a Forward P/E ratio of 17.83. This valuation marks a premium compared to its industry's average Forward P/E of 17.29.
Also, we should mention that GOLD has a PEG ratio of 8.91. 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. Mining - Gold stocks are, on average, holding a PEG ratio of 3.13 based on yesterday's closing prices.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 195, putting it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.