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Barrick Gold (GOLD) Dips More Than Broader Markets: What You Should Know
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Barrick Gold (GOLD - Free Report) closed at $18.97 in the latest trading session, marking a -0.37% move from the prior day. This move lagged the S&P 500's daily loss of 0.08%. Meanwhile, the Dow lost 0.34%, and the Nasdaq, a tech-heavy index, added 11.55%.
Heading into today, shares of the gold and copper mining company had gained 14.84% over the past month, outpacing the Basic Materials sector's loss of 2.28% and the S&P 500's loss of 1.03% in that time.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release. On that day, Barrick Gold is projected to report earnings of $0.18 per share, which would represent a year-over-year decline of 48.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.15 billion, down 4.97% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Barrick Gold. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 0.17% higher. Barrick Gold currently has a Zacks Rank of #3 (Hold).
Investors should also note Barrick Gold's current valuation metrics, including its Forward P/E ratio of 22.74. Its industry sports an average Forward P/E of 21.44, so we one might conclude that Barrick Gold is trading at a premium comparatively.
Meanwhile, GOLD's PEG ratio is currently 11.37. 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. The Mining - Gold industry currently had an average PEG ratio of 4.36 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 52, putting it in the top 21% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Barrick Gold (GOLD) Dips More Than Broader Markets: What You Should Know
Barrick Gold (GOLD - Free Report) closed at $18.97 in the latest trading session, marking a -0.37% move from the prior day. This move lagged the S&P 500's daily loss of 0.08%. Meanwhile, the Dow lost 0.34%, and the Nasdaq, a tech-heavy index, added 11.55%.
Heading into today, shares of the gold and copper mining company had gained 14.84% over the past month, outpacing the Basic Materials sector's loss of 2.28% and the S&P 500's loss of 1.03% in that time.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release. On that day, Barrick Gold is projected to report earnings of $0.18 per share, which would represent a year-over-year decline of 48.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.15 billion, down 4.97% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Barrick Gold. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 0.17% higher. Barrick Gold currently has a Zacks Rank of #3 (Hold).
Investors should also note Barrick Gold's current valuation metrics, including its Forward P/E ratio of 22.74. Its industry sports an average Forward P/E of 21.44, so we one might conclude that Barrick Gold is trading at a premium comparatively.
Meanwhile, GOLD's PEG ratio is currently 11.37. 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. The Mining - Gold industry currently had an average PEG ratio of 4.36 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 52, putting it in the top 21% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.