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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 $16.33, marking a +1.3% move from the previous day. This change outpaced the S&P 500's 0.84% gain on the day. Elsewhere, the Dow gained 0.96%, while the tech-heavy Nasdaq added 0.81%.
Heading into today, shares of the gold and copper mining company had gained 2.22% over the past month, outpacing the Basic Materials sector's loss of 1.53% and the S&P 500's gain of 0.19% in that time.
Barrick Gold will be looking to display strength as it nears its next earnings release. In that report, analysts expect Barrick Gold to post earnings of $0.27 per share. This would mark year-over-year growth of 107.69%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3 billion, up 18.67% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $0.89 per share and revenue of $11.88 billion. These results would represent year-over-year changes of +18.67% and +7.85%, respectively.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 1.97% higher. Barrick Gold is currently a Zacks Rank #3 (Hold).
Digging into valuation, Barrick Gold currently has a Forward P/E ratio of 18.2. Its industry sports an average Forward P/E of 19.7, so we one might conclude that Barrick Gold is trading at a discount comparatively.
Investors should also note that GOLD has a PEG ratio of 9.1 right now. 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 3.32 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 171, putting it in the bottom 33% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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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 $16.33, marking a +1.3% move from the previous day. This change outpaced the S&P 500's 0.84% gain on the day. Elsewhere, the Dow gained 0.96%, while the tech-heavy Nasdaq added 0.81%.
Heading into today, shares of the gold and copper mining company had gained 2.22% over the past month, outpacing the Basic Materials sector's loss of 1.53% and the S&P 500's gain of 0.19% in that time.
Barrick Gold will be looking to display strength as it nears its next earnings release. In that report, analysts expect Barrick Gold to post earnings of $0.27 per share. This would mark year-over-year growth of 107.69%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3 billion, up 18.67% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $0.89 per share and revenue of $11.88 billion. These results would represent year-over-year changes of +18.67% and +7.85%, respectively.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 1.97% higher. Barrick Gold is currently a Zacks Rank #3 (Hold).
Digging into valuation, Barrick Gold currently has a Forward P/E ratio of 18.2. Its industry sports an average Forward P/E of 19.7, so we one might conclude that Barrick Gold is trading at a discount comparatively.
Investors should also note that GOLD has a PEG ratio of 9.1 right now. 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 3.32 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 171, putting it in the bottom 33% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.