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Barrick Gold (GOLD) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $18.79, marking a +1.18% move from the previous day. This change outpaced the S&P 500's 0.37% gain on the day. Elsewhere, the Dow gained 0.98%, while the tech-heavy Nasdaq added 0.62%.
Heading into today, shares of the gold and copper mining company had gained 12.41% over the past month, outpacing the Basic Materials sector's gain of 1.4% and the S&P 500's gain of 3.71% 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 $0.12 per share, which would represent a year-over-year decline of 53.85%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.21 billion, up 12.43% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $0.89 per share and revenue of $11.62 billion. These results would represent year-over-year changes of +18.67% and +5.54%, respectively.
It is also important to note the recent changes to analyst estimates for Barrick Gold. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 remained stagnant within the past month. Barrick Gold is currently a Zacks Rank #3 (Hold).
In terms of valuation, Barrick Gold is currently trading at a Forward P/E ratio of 20.86. Its industry sports an average Forward P/E of 20.86, 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 10.43. 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. GOLD's industry had an average PEG ratio of 3.44 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 166, putting it in the bottom 35% 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.
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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $18.79, marking a +1.18% move from the previous day. This change outpaced the S&P 500's 0.37% gain on the day. Elsewhere, the Dow gained 0.98%, while the tech-heavy Nasdaq added 0.62%.
Heading into today, shares of the gold and copper mining company had gained 12.41% over the past month, outpacing the Basic Materials sector's gain of 1.4% and the S&P 500's gain of 3.71% 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 $0.12 per share, which would represent a year-over-year decline of 53.85%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.21 billion, up 12.43% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $0.89 per share and revenue of $11.62 billion. These results would represent year-over-year changes of +18.67% and +5.54%, respectively.
It is also important to note the recent changes to analyst estimates for Barrick Gold. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 remained stagnant within the past month. Barrick Gold is currently a Zacks Rank #3 (Hold).
In terms of valuation, Barrick Gold is currently trading at a Forward P/E ratio of 20.86. Its industry sports an average Forward P/E of 20.86, 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 10.43. 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. GOLD's industry had an average PEG ratio of 3.44 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 166, putting it in the bottom 35% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.