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Barrick Gold (GOLD) Gains As Market Dips: What You Should Know

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Barrick Gold (GOLD) closed the most recent trading day at $16.49, moving +0.3% from the previous trading session. This change outpaced the S&P 500's 0.45% loss on the day. Meanwhile, the Dow lost 0.67%, and the Nasdaq, a tech-heavy index, lost 0.05%.

Coming into today, shares of the gold and copper mining company had lost 15.56% in the past month. In that same time, the Basic Materials sector lost 22.59%, while the S&P 500 lost 1.89%.

Barrick Gold will be looking to display strength as it nears its next earnings release, which is expected to be August 8, 2022. The company is expected to report EPS of $0.29, unchanged from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.16 billion, up 9.19% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $1.19 per share and revenue of $12.35 billion, which would represent changes of +2.59% and +3.04%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for Barrick Gold. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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.

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. Within the past 30 days, our consensus EPS projection has moved 0.61% lower. Barrick Gold currently has a Zacks Rank of #4 (Sell).

Looking at its valuation, Barrick Gold is holding a Forward P/E ratio of 13.8. This represents a premium compared to its industry's average Forward P/E of 13.51.

We can also see that GOLD currently has a PEG ratio of 6.9. 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 2.76 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 181, which puts it in the bottom 29% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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