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Barrick Gold (GOLD) Rises Higher Than Market: Key Facts
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In the latest market close, Barrick Gold (GOLD - Free Report) reached $14.58, with a +1.46% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily gain of 1.18%. On the other hand, the Dow registered a gain of 0.87%, and the technology-centric Nasdaq increased by 1.6%.
Coming into today, shares of the gold and copper mining company had lost 8.99% in the past month. In that same time, the Basic Materials sector lost 6.48%, while the S&P 500 lost 5.17%.
The investment community will be closely monitoring the performance of Barrick Gold in its forthcoming earnings report. The company is forecasted to report an EPS of $0.27, showcasing a 107.69% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $3 billion, reflecting a 18.67% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $0.89 per share and a revenue of $11.88 billion, demonstrating changes of +18.67% and +7.85%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Barrick Gold. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.35% downward. As of now, Barrick Gold holds a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Barrick Gold has a Forward P/E ratio of 16.17 right now. This represents a discount compared to its industry's average Forward P/E of 18.5.
Investors should also note that GOLD has a PEG ratio of 8.09 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. GOLD's industry had an average PEG ratio of 3.18 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 186, positioning it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Barrick Gold (GOLD) Rises Higher Than Market: Key Facts
In the latest market close, Barrick Gold (GOLD - Free Report) reached $14.58, with a +1.46% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily gain of 1.18%. On the other hand, the Dow registered a gain of 0.87%, and the technology-centric Nasdaq increased by 1.6%.
Coming into today, shares of the gold and copper mining company had lost 8.99% in the past month. In that same time, the Basic Materials sector lost 6.48%, while the S&P 500 lost 5.17%.
The investment community will be closely monitoring the performance of Barrick Gold in its forthcoming earnings report. The company is forecasted to report an EPS of $0.27, showcasing a 107.69% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $3 billion, reflecting a 18.67% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $0.89 per share and a revenue of $11.88 billion, demonstrating changes of +18.67% and +7.85%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Barrick Gold. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.35% downward. As of now, Barrick Gold holds a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Barrick Gold has a Forward P/E ratio of 16.17 right now. This represents a discount compared to its industry's average Forward P/E of 18.5.
Investors should also note that GOLD has a PEG ratio of 8.09 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. GOLD's industry had an average PEG ratio of 3.18 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 186, positioning it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.