Barrick Gold (GOLD) Declines More Than Market: Some Information for Investors
In the latest market close, Barrick Gold (GOLD) reached $17.88, with a -1.16% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.57%. On the other hand, the Dow registered a gain of 0.07%, and the technology-centric Nasdaq decreased by 1.64%.
Prior to today's trading, shares of the gold and copper mining company had gained 3.19% over the past month. This has lagged the Basic Materials sector's gain of 4.35% and the S&P 500's gain of 4% in that time.
The investment community will be paying close attention to the earnings performance of Barrick Gold in its upcoming release. The company's earnings per share (EPS) are projected to be $0.25, reflecting a 92.31% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $3.13 billion, up 12.89% from the prior-year quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Barrick Gold. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 remained steady. Barrick Gold is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Barrick Gold is presently being traded at a Forward P/E ratio of 16.36. Its industry sports an average Forward P/E of 16.61, so one might conclude that Barrick Gold is trading at a discount comparatively.
Investors should also note that GOLD has a PEG ratio of 1.15 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Mining - Gold industry currently had an average PEG ratio of 1.04 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% 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.
To follow GOLD in the coming trading sessions, be sure to utilize Zacks.com.
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Barrick Gold Corporation (GOLD) : Free Stock Analysis Report
