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Barrick Gold (GOLD) Exceeds Market Returns: Some Facts to Consider
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Barrick Gold (GOLD - Free Report) closed at $18.04 in the latest trading session, marking a +0.78% move from the prior day. This move outpaced the S&P 500's daily gain of 0.74%. On the other hand, the Dow registered a loss of 0.01%, and the technology-centric Nasdaq increased by 1.68%.
Heading into today, shares of the gold and copper mining company had gained 12.02% over the past month, outpacing the Basic Materials sector's gain of 3.54% and the S&P 500's gain of 0.8% in that time.
The investment community will be paying close attention to the earnings performance of Barrick Gold in its upcoming release. The company is slated to reveal its earnings on May 1, 2024. The company is predicted to post an EPS of $0.20, indicating a 42.86% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $2.93 billion, reflecting a 10.94% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.92 per share and revenue of $12.37 billion, indicating changes of +9.52% and +8.51%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Barrick Gold. Such recent modifications usually signify the changing landscape of 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.22% upward. Right now, Barrick Gold possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Barrick Gold is presently trading at a Forward P/E ratio of 19.46. This indicates a discount in contrast to its industry's Forward P/E of 19.68.
We can additionally observe that GOLD currently boasts a PEG ratio of 1.62. 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 industry had an average PEG ratio of 2.38 as trading concluded yesterday.
The Mining - Gold industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 91, placing it within the top 37% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Barrick Gold (GOLD) Exceeds Market Returns: Some Facts to Consider
Barrick Gold (GOLD - Free Report) closed at $18.04 in the latest trading session, marking a +0.78% move from the prior day. This move outpaced the S&P 500's daily gain of 0.74%. On the other hand, the Dow registered a loss of 0.01%, and the technology-centric Nasdaq increased by 1.68%.
Heading into today, shares of the gold and copper mining company had gained 12.02% over the past month, outpacing the Basic Materials sector's gain of 3.54% and the S&P 500's gain of 0.8% in that time.
The investment community will be paying close attention to the earnings performance of Barrick Gold in its upcoming release. The company is slated to reveal its earnings on May 1, 2024. The company is predicted to post an EPS of $0.20, indicating a 42.86% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $2.93 billion, reflecting a 10.94% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.92 per share and revenue of $12.37 billion, indicating changes of +9.52% and +8.51%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Barrick Gold. Such recent modifications usually signify the changing landscape of 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.22% upward. Right now, Barrick Gold possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Barrick Gold is presently trading at a Forward P/E ratio of 19.46. This indicates a discount in contrast to its industry's Forward P/E of 19.68.
We can additionally observe that GOLD currently boasts a PEG ratio of 1.62. 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 industry had an average PEG ratio of 2.38 as trading concluded yesterday.
The Mining - Gold industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 91, placing it within the top 37% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.