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Barrick Gold (GOLD) Outpaces Stock Market Gains: What You Should Know

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Zacks Equity Research
·3 min read
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Barrick Gold (GOLD) closed at $24.50 in the latest trading session, marking a +0.91% move from the prior day. This move outpaced the S&P 500's daily gain of 0.57%. Meanwhile, the Dow gained 1.44%, and the Nasdaq, a tech-heavy index, lost 0.61%.

Heading into today, shares of the gold and copper mining company had gained 1.59% over the past month, lagging the Basic Materials sector's gain of 11.79% and outpacing the S&P 500's gain of 0.83% in that time.

GOLD will be looking to display strength as it nears its next earnings release. On that day, GOLD is projected to report earnings of $0.34 per share, which would represent year-over-year growth of 100%. Our most recent consensus estimate is calling for quarterly revenue of $3.11 billion, up 7.92% from the year-ago period.

Any recent changes to analyst estimates for GOLD should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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. 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.54% lower. GOLD is currently a Zacks Rank #3 (Hold).

Investors should also note GOLD's current valuation metrics, including its Forward P/E ratio of 18.37. For comparison, its industry has an average Forward P/E of 12.59, which means GOLD is trading at a premium to the group.

It is also worth noting that GOLD currently has a PEG ratio of 9.19. 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. The Mining - Gold industry currently had an average PEG ratio of 2.16 as of yesterday's close.

The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 233, putting it in the bottom 9% 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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