Barrick Gold (GOLD) closed the most recent trading day at $17.10, moving -0.75% from the previous trading session. This change lagged the S&P 500's 0.31% loss on the day. Elsewhere, the Dow lost 0.52%, while the tech-heavy Nasdaq lost 0.28%.
Prior to today's trading, shares of the gold and copper mining company had lost 6.31% over the past month. This has lagged the Basic Materials sector's gain of 3.86% and the S&P 500's gain of 2.92% in that time.
Investors will be hoping for strength from GOLD as it approaches its next earnings release. In that report, analysts expect GOLD to post earnings of $0.15 per share. This would mark year-over-year growth of 87.5%. Our most recent consensus estimate is calling for quarterly revenue of $2.35 billion, up 27.91% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.54 per share and revenue of $8.86 billion. These totals would mark changes of +53.88% and +22.26%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for GOLD. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 5.01% higher within the past month. GOLD is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, GOLD is currently trading at a Forward P/E ratio of 31.99. For comparison, its industry has an average Forward P/E of 29.06, which means GOLD is trading at a premium to the group.
It is also worth noting that GOLD currently has a PEG ratio of 16. 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 6.18 based on yesterday's closing prices.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 13, putting it in the top 6% of all 250+ industries.
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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.