Barrick Gold (GOLD - Free Report) closed at $16.91 in the latest trading session, marking a -0.24% move from the prior day. This change was narrower than the S&P 500's 0.73% loss on the day. Elsewhere, the Dow lost 0.37%, while the tech-heavy Nasdaq lost 1.32%.
Prior to today's trading, shares of the gold and copper mining company had gained 6.74% over the past month. This has outpaced the Basic Materials sector's loss of 4.59% and the S&P 500's loss of 0.27% in that time.
Investors will be hoping for strength from GOLD as it approaches its next earnings release, which is expected to be August 12, 2019. The company is expected to report EPS of $0.10, up 42.86% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.09 billion, up 22.13% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $0.46 per share and revenue of $8.40 billion. These results would represent year-over-year changes of +31.43% and +15.99%, respectively.
Investors might also notice recent changes to analyst estimates for 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 18.18% higher. GOLD currently has a Zacks Rank of #2 (Buy).
Digging into valuation, GOLD currently has a Forward P/E ratio of 36.51. Its industry sports an average Forward P/E of 33.65, so we one might conclude that GOLD is trading at a premium comparatively.
Investors should also note that GOLD has a PEG ratio of 18.25 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. GOLD's industry had an average PEG ratio of 11.41 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 12, putting it in the top 5% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.