Barrick Gold (GOLD) closed at $15.30 in the latest trading session, marking a +1.06% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.72%. Meanwhile, the Dow lost 0.45%, and the Nasdaq, a tech-heavy index, lost 0.27%.
Heading into today, shares of the gold and copper mining company had lost 7.74% over the past month, lagging the Basic Materials sector's loss of 6.49% and outpacing the S&P 500's loss of 9.06% in that time.
Wall Street will be looking for positivity from Barrick Gold as it approaches its next earnings report date. On that day, Barrick Gold is projected to report earnings of $0.26 per share, which would represent year-over-year growth of 8.33%. Our most recent consensus estimate is calling for quarterly revenue of $3.02 billion, up 6.76% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $1.03 per share and revenue of $11.86 billion. These results would represent year-over-year changes of -11.21% and -1.02%, respectively.
Any recent changes to analyst estimates for Barrick Gold should also be noted by investors. 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. 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. The Zacks Consensus EPS estimate has moved 2.15% lower within the past month. Barrick Gold is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Barrick Gold has a Forward P/E ratio of 14.77 right now. For comparison, its industry has an average Forward P/E of 16.34, which means Barrick Gold is trading at a discount to the group.
Meanwhile, GOLD's PEG ratio is currently 7.39. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Mining - Gold industry currently had an average PEG ratio of 2.96 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 175, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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