In the latest trading session, Barrick Gold (GOLD) closed at $17.22, marking no change from the previous day. This move was narrower than the S&P 500's daily loss of 0.62%. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, lost 0.74%.
Prior to today's trading, shares of the gold and copper mining company had gained 12.55% over the past month. This has outpaced the Basic Materials sector's gain of 2.67% and the S&P 500's gain of 2.8% in that time.
Wall Street will be looking for positivity from GOLD as it approaches its next earnings report date. This is expected to be August 12, 2019. On that day, GOLD is projected to report earnings of $0.09 per share, which would represent year-over-year growth of 28.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.07 billion, up 20.91% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.41 per share and revenue of $8.40 billion, which would represent changes of +17.14% and +15.91%, respectively, from the prior year.
Any recent changes to analyst estimates for GOLD should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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 7.26% higher. GOLD is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that GOLD has a Forward P/E ratio of 41.57 right now. This represents a premium compared to its industry's average Forward P/E of 34.98.
We can also see that GOLD currently has a PEG ratio of 20.78. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Mining - Gold stocks are, on average, holding a PEG ratio of 13.82 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 21, which puts it in the top 9% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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