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Barrick Gold (GOLD) Stock Sinks As Market Gains: What You Should Know
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Barrick Gold (GOLD - Free Report) closed at $17.40 in the latest trading session, marking a -0.46% move from the prior day. This change lagged the S&P 500's 1.76% gain on the day. Meanwhile, the Dow gained 1.17%, and the Nasdaq, a tech-heavy index, added 3.03%.
Coming into today, shares of the gold and copper mining company had gained 1.81% in the past month. In that same time, the Basic Materials sector lost 7.76%, while the S&P 500 lost 5.94%.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release. In that report, analysts expect Barrick Gold to post earnings of $0.17 per share. This would mark a year-over-year decline of 34.62%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.21 billion, up 12.43% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.89 per share and revenue of $11.62 billion. These totals would mark changes of +18.67% and +5.54%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Barrick Gold. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 5.46% lower within the past month. Barrick Gold is currently a Zacks Rank #3 (Hold).
Investors should also note Barrick Gold's current valuation metrics, including its Forward P/E ratio of 19.64. Its industry sports an average Forward P/E of 18.37, so we one might conclude that Barrick Gold is trading at a premium comparatively.
Meanwhile, GOLD's PEG ratio is currently 9.82. 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 was holding an average PEG ratio of 3.02 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 41% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Barrick Gold (GOLD) Stock Sinks As Market Gains: What You Should Know
Barrick Gold (GOLD - Free Report) closed at $17.40 in the latest trading session, marking a -0.46% move from the prior day. This change lagged the S&P 500's 1.76% gain on the day. Meanwhile, the Dow gained 1.17%, and the Nasdaq, a tech-heavy index, added 3.03%.
Coming into today, shares of the gold and copper mining company had gained 1.81% in the past month. In that same time, the Basic Materials sector lost 7.76%, while the S&P 500 lost 5.94%.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release. In that report, analysts expect Barrick Gold to post earnings of $0.17 per share. This would mark a year-over-year decline of 34.62%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.21 billion, up 12.43% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.89 per share and revenue of $11.62 billion. These totals would mark changes of +18.67% and +5.54%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Barrick Gold. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 5.46% lower within the past month. Barrick Gold is currently a Zacks Rank #3 (Hold).
Investors should also note Barrick Gold's current valuation metrics, including its Forward P/E ratio of 19.64. Its industry sports an average Forward P/E of 18.37, so we one might conclude that Barrick Gold is trading at a premium comparatively.
Meanwhile, GOLD's PEG ratio is currently 9.82. 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 was holding an average PEG ratio of 3.02 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 41% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.