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Barrick Gold (GOLD) Stock Moves -0.86%: What You Should Know
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In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $18.34, marking a -0.86% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.11%. Meanwhile, the Dow lost 0.61%, and the Nasdaq, a tech-heavy index, lost 2.13%.
Heading into today, shares of the gold and copper mining company had lost 4.59% over the past month, lagging the Basic Materials sector's gain of 4.33% and the S&P 500's gain of 7% in that time.
Wall Street will be looking for positivity from Barrick Gold as it approaches its next earnings report date. This is expected to be February 15, 2023. On that day, Barrick Gold is projected to report earnings of $0.13 per share, which would represent a year-over-year decline of 62.86%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.15 billion, down 4.97% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Barrick Gold. These recent revisions tend to reflect the evolving nature of short-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. 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. Within the past 30 days, our consensus EPS projection has moved 8.7% higher. Barrick Gold is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Barrick Gold currently has a Forward P/E ratio of 20.33. Its industry sports an average Forward P/E of 20.33, so we one might conclude that Barrick Gold is trading at a no noticeable deviation comparatively.
It is also worth noting that GOLD currently has a PEG ratio of 10.16. 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 3.79 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 70, putting it in the top 28% 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.
To follow GOLD in the coming trading sessions, be sure to utilize Zacks.com.
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Barrick Gold (GOLD) Stock Moves -0.86%: What You Should Know
In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $18.34, marking a -0.86% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.11%. Meanwhile, the Dow lost 0.61%, and the Nasdaq, a tech-heavy index, lost 2.13%.
Heading into today, shares of the gold and copper mining company had lost 4.59% over the past month, lagging the Basic Materials sector's gain of 4.33% and the S&P 500's gain of 7% in that time.
Wall Street will be looking for positivity from Barrick Gold as it approaches its next earnings report date. This is expected to be February 15, 2023. On that day, Barrick Gold is projected to report earnings of $0.13 per share, which would represent a year-over-year decline of 62.86%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.15 billion, down 4.97% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Barrick Gold. These recent revisions tend to reflect the evolving nature of short-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. 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. Within the past 30 days, our consensus EPS projection has moved 8.7% higher. Barrick Gold is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Barrick Gold currently has a Forward P/E ratio of 20.33. Its industry sports an average Forward P/E of 20.33, so we one might conclude that Barrick Gold is trading at a no noticeable deviation comparatively.
It is also worth noting that GOLD currently has a PEG ratio of 10.16. 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 3.79 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 70, putting it in the top 28% 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.
To follow GOLD in the coming trading sessions, be sure to utilize Zacks.com.