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Barrick Gold (GOLD) Gains As Market Dips: What You Should Know
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Barrick Gold (GOLD - Free Report) closed at $16.42 in the latest trading session, marking a +0.55% move from the prior day. This change outpaced the S&P 500's 0.94% loss on the day. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, lost 1.53%.
Prior to today's trading, shares of the gold and copper mining company had gained 3.09% over the past month. This has lagged the Basic Materials sector's gain of 3.57% and outpaced the S&P 500's gain of 1.85% 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 $0.27 per share, which would represent year-over-year growth of 107.69%. Our most recent consensus estimate is calling for quarterly revenue of $3 billion, up 18.67% 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 $11.88 billion. These totals would mark changes of +18.67% and +7.85%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Barrick Gold. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.97% higher within the past month. Barrick Gold is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Barrick Gold is currently trading at a Forward P/E ratio of 18.44. This represents a no noticeable deviation compared to its industry's average Forward P/E of 18.44.
Also, we should mention that GOLD has a PEG ratio of 9.22. 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 3.27 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 159, which puts it in the bottom 37% 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) Gains As Market Dips: What You Should Know
Barrick Gold (GOLD - Free Report) closed at $16.42 in the latest trading session, marking a +0.55% move from the prior day. This change outpaced the S&P 500's 0.94% loss on the day. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, lost 1.53%.
Prior to today's trading, shares of the gold and copper mining company had gained 3.09% over the past month. This has lagged the Basic Materials sector's gain of 3.57% and outpaced the S&P 500's gain of 1.85% 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 $0.27 per share, which would represent year-over-year growth of 107.69%. Our most recent consensus estimate is calling for quarterly revenue of $3 billion, up 18.67% 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 $11.88 billion. These totals would mark changes of +18.67% and +7.85%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Barrick Gold. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.97% higher within the past month. Barrick Gold is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Barrick Gold is currently trading at a Forward P/E ratio of 18.44. This represents a no noticeable deviation compared to its industry's average Forward P/E of 18.44.
Also, we should mention that GOLD has a PEG ratio of 9.22. 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 3.27 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 159, which puts it in the bottom 37% 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.