Barrick Gold (GOLD – Free Report) closed at $18.78 in the latest trading session, marking a +0.27% move from the prior day. This change lagged the S&P 500’s 2.13% gain on the day. Elsewhere, the Dow saw an upswing of 1.65%, while the tech-heavy Nasdaq appreciated by 2.61%.
The gold and copper mining company’s stock has climbed by 1.57% in the past month, exceeding the Basic Materials sector’s loss of 4.39% and the S&P 500’s loss of 9.57%.
Analysts and investors alike will be keeping a close eye on the performance of Barrick Gold in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.25, showcasing a 31.58% upward movement from the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.47 per share and revenue of $13.52 billion, which would represent changes of +16.67% and +4.65%, respectively, from the prior year.
It’s also important for investors to be aware of any recent modifications to analyst estimates for Barrick Gold. These revisions help to show the ever-changing nature 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 utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 4.1% downward. Barrick Gold is currently sporting a Zacks Rank of #5 (Strong Sell).
Digging into valuation, Barrick Gold currently has a Forward P/E ratio of 12.73. This signifies a discount in comparison to the average Forward P/E of 13.34 for its industry.
We can additionally observe that GOLD currently boasts a PEG ratio of 0.44. 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. GOLD’s industry had an average PEG ratio of 0.88 as of yesterday’s close.
The Mining – Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 159, this industry ranks in the bottom 37% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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