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Barrick Gold (GOLD) Gains As Market Dips: What You Should Know
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In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $18.66, marking a +0.86% move from the previous day. This move outpaced the S&P 500's daily loss of 0.16%. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq lost 3.64%.
Heading into today, shares of the gold and copper mining company had gained 15.84% over the past month, outpacing the Basic Materials sector's loss of 2.06% and the S&P 500's gain of 0.07% in that time.
Barrick Gold will be looking to display strength as it nears its next earnings release. On that day, Barrick Gold is projected to report earnings of $0.17 per share, which would represent 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.89 per share and revenue of $11.62 billion, which would represent changes of +18.67% and +5.54%, respectively, from the prior year.
Investors might also notice 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.16% higher. Barrick Gold currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Barrick Gold currently has a Forward P/E ratio of 20.79. This represents a no noticeable deviation compared to its industry's average Forward P/E of 20.79.
We can also see that GOLD currently has a PEG ratio of 10.39. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. GOLD's industry had an average PEG ratio of 3.34 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 156, putting it in the bottom 39% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Barrick Gold (GOLD) Gains As Market Dips: What You Should Know
In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $18.66, marking a +0.86% move from the previous day. This move outpaced the S&P 500's daily loss of 0.16%. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq lost 3.64%.
Heading into today, shares of the gold and copper mining company had gained 15.84% over the past month, outpacing the Basic Materials sector's loss of 2.06% and the S&P 500's gain of 0.07% in that time.
Barrick Gold will be looking to display strength as it nears its next earnings release. On that day, Barrick Gold is projected to report earnings of $0.17 per share, which would represent 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.89 per share and revenue of $11.62 billion, which would represent changes of +18.67% and +5.54%, respectively, from the prior year.
Investors might also notice 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.16% higher. Barrick Gold currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Barrick Gold currently has a Forward P/E ratio of 20.79. This represents a no noticeable deviation compared to its industry's average Forward P/E of 20.79.
We can also see that GOLD currently has a PEG ratio of 10.39. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. GOLD's industry had an average PEG ratio of 3.34 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 156, putting it in the bottom 39% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.