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Barrick Gold (GOLD) Gains But Lags Market: What You Should Know

Zacks Equity Research
·3 mins read

Barrick Gold (GOLD) closed the most recent trading day at $27.76, moving +0.22% from the previous trading session. This change lagged the S&P 500's 1.61% gain on the day. Meanwhile, the Dow gained 1.51%, and the Nasdaq, a tech-heavy index, added 1.87%.

Coming into today, shares of the gold and copper mining company had lost 3.08% in the past month. In that same time, the Basic Materials sector lost 2.02%, while the S&P 500 lost 4.08%.

GOLD will be looking to display strength as it nears its next earnings release. In that report, analysts expect GOLD to post earnings of $0.28 per share. This would mark year-over-year growth of 86.67%. Our most recent consensus estimate is calling for quarterly revenue of $3.03 billion, up 12.99% from the year-ago period.

GOLD's full-year Zacks Consensus Estimates are calling for earnings of $0.94 per share and revenue of $12.31 billion. These results would represent year-over-year changes of +84.31% and +26.67%, respectively.

Investors might also notice recent changes to analyst estimates for GOLD. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 moved 3.12% higher. GOLD is holding a Zacks Rank of #1 (Strong Buy) right now.

In terms of valuation, GOLD is currently trading at a Forward P/E ratio of 29.33. For comparison, its industry has an average Forward P/E of 19.5, which means GOLD is trading at a premium to the group.

Also, we should mention that GOLD has a PEG ratio of 14.67. 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. GOLD's industry had an average PEG ratio of 1.87 as of yesterday's close.

The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% 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.


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