Barrick Gold (GOLD) closed the most recent trading day at $15.10, moving +1% from the previous trading session. This move outpaced the S&P 500's daily loss of 2.11%. Meanwhile, the Dow lost 1.54%, and the Nasdaq, a tech-heavy index, lost 0.3%.
Prior to today's trading, shares of the gold and copper mining company had gained 0.67% over the past month. This has outpaced the Basic Materials sector's loss of 10.54% and the S&P 500's loss of 8.19% in that time.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release. In that report, analysts expect Barrick Gold to post earnings of $0.23 per share. This would mark a year-over-year decline of 4.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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 revisions help to show the ever-changing nature of 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, 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 0.85% lower. Barrick Gold currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Barrick Gold has a Forward P/E ratio of 14.56 right now. This valuation marks a discount compared to its industry's average Forward P/E of 15.76.
Also, we should mention that GOLD has a PEG ratio of 7.28. 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 was holding an average PEG ratio of 2.96 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 166, putting it in the bottom 35% 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Barrick Gold Corporation (GOLD) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research