Barrick Gold (GOLD - Free Report) closed at $19.38 in the latest trading session, marking a +0.52% move from the prior day. This change outpaced the S&P 500's 0.06% gain on the day. Meanwhile, the Dow gained 0.16%, and the Nasdaq, a tech-heavy index, lost 0.13%.
Prior to today's trading, shares of the gold and copper mining company had gained 13.75% over the past month. This has outpaced the Basic Materials sector's loss of 7.92% and the S&P 500's loss of 2.95% in that time.
Wall Street will be looking for positivity from GOLD as it approaches its next earnings report date. The company is expected to report EPS of $0.15, up 87.5% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.35 billion, up 27.91% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.54 per share and revenue of $8.86 billion, which would represent changes of +54.29% and +22.26%, respectively, from the prior year.
Any recent changes to analyst estimates for GOLD should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, 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 moved 16% higher. GOLD is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, GOLD currently has a Forward P/E ratio of 35.8. For comparison, its industry has an average Forward P/E of 32.87, which means GOLD is trading at a premium to the group.
It is also worth noting that GOLD currently has a PEG ratio of 17.9. 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. Mining - Gold stocks are, on average, holding a PEG ratio of 7.61 based on yesterday's closing prices.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 10, which puts it in the top 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.