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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 $19.46 in the latest trading session, marking a -1.37% move from the prior day. This move lagged the S&P 500's daily gain of 0.1%. Meanwhile, the Dow gained 0.3%, and the Nasdaq, a tech-heavy index, lost 2.19%.
Coming into today, shares of the gold and copper mining company had gained 24.01% in the past month. In that same time, the Basic Materials sector gained 0.68%, while the S&P 500 gained 3.13%.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release, which is expected to be May 3, 2023. In that report, analysts expect Barrick Gold to post earnings of $0.18 per share. This would mark a year-over-year decline of 30.77%. Our most recent consensus estimate is calling for quarterly revenue of $3.21 billion, up 12.43% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $0.92 per share and revenue of $11.62 billion. These results would represent year-over-year changes of +22.67% and +5.54%, respectively.
Investors should also note any recent changes to analyst estimates for Barrick Gold. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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 3.05% higher within the past month. Barrick Gold is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Barrick Gold currently has a Forward P/E ratio of 21.51. This represents a discount compared to its industry's average Forward P/E of 23.34.
It is also worth noting that GOLD currently has a PEG ratio of 10.76. 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 4.29 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% 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.
You can find more information on all of these metrics, and much 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 $19.46 in the latest trading session, marking a -1.37% move from the prior day. This move lagged the S&P 500's daily gain of 0.1%. Meanwhile, the Dow gained 0.3%, and the Nasdaq, a tech-heavy index, lost 2.19%.
Coming into today, shares of the gold and copper mining company had gained 24.01% in the past month. In that same time, the Basic Materials sector gained 0.68%, while the S&P 500 gained 3.13%.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release, which is expected to be May 3, 2023. In that report, analysts expect Barrick Gold to post earnings of $0.18 per share. This would mark a year-over-year decline of 30.77%. Our most recent consensus estimate is calling for quarterly revenue of $3.21 billion, up 12.43% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $0.92 per share and revenue of $11.62 billion. These results would represent year-over-year changes of +22.67% and +5.54%, respectively.
Investors should also note any recent changes to analyst estimates for Barrick Gold. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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 3.05% higher within the past month. Barrick Gold is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Barrick Gold currently has a Forward P/E ratio of 21.51. This represents a discount compared to its industry's average Forward P/E of 23.34.
It is also worth noting that GOLD currently has a PEG ratio of 10.76. 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 4.29 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.