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Barrick Gold (GOLD) Outperforms Broader Market: What You Need to Know
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Barrick Gold (GOLD - Free Report) closed at $15.90 in the latest trading session, marking a +1.21% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 1.03% for the day. Elsewhere, the Dow gained 0.34%, while the tech-heavy Nasdaq added 1.51%.
Shares of the gold and copper mining company have appreciated by 5.22% over the course of the past month, outperforming the Basic Materials sector's gain of 3.78% and the S&P 500's gain of 3.21%.
Investors will be eagerly watching for the performance of Barrick Gold in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.19, marking a 35.71% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $2.93 billion, indicating a 10.94% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.90 per share and a revenue of $12.37 billion, indicating changes of +7.14% and +8.51%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Barrick Gold. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Over the past month, the Zacks Consensus EPS estimate has moved 14.87% lower. At present, Barrick Gold boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Barrick Gold has a Forward P/E ratio of 17.46 right now. This valuation marks a discount compared to its industry's average Forward P/E of 20.24.
We can also see that GOLD currently has a PEG ratio of 1.22. 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. The Mining - Gold industry had an average PEG ratio of 1.78 as trading concluded yesterday.
The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 144, finds itself in the bottom 43% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Barrick Gold (GOLD) Outperforms Broader Market: What You Need to Know
Barrick Gold (GOLD - Free Report) closed at $15.90 in the latest trading session, marking a +1.21% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 1.03% for the day. Elsewhere, the Dow gained 0.34%, while the tech-heavy Nasdaq added 1.51%.
Shares of the gold and copper mining company have appreciated by 5.22% over the course of the past month, outperforming the Basic Materials sector's gain of 3.78% and the S&P 500's gain of 3.21%.
Investors will be eagerly watching for the performance of Barrick Gold in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.19, marking a 35.71% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $2.93 billion, indicating a 10.94% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.90 per share and a revenue of $12.37 billion, indicating changes of +7.14% and +8.51%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Barrick Gold. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Over the past month, the Zacks Consensus EPS estimate has moved 14.87% lower. At present, Barrick Gold boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Barrick Gold has a Forward P/E ratio of 17.46 right now. This valuation marks a discount compared to its industry's average Forward P/E of 20.24.
We can also see that GOLD currently has a PEG ratio of 1.22. 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. The Mining - Gold industry had an average PEG ratio of 1.78 as trading concluded yesterday.
The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 144, finds itself in the bottom 43% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 follow all of these stock-moving metrics, and many more, on Zacks.com.