Barrick Gold (GOLD) Rises Yet Lags Behind Market: Some Facts Worth Knowing
Barrick Gold (GOLD) closed at $17.69 in the latest trading session, marking a +1.14% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 1.41%. Elsewhere, the Dow saw an upswing of 0.58%, while the tech-heavy Nasdaq appreciated by 2.2%.
The gold and copper mining company's shares have seen an increase of 4.17% over the last month, not keeping up with the Basic Materials sector's gain of 5.33% and outstripping the S&P 500's gain of 2.9%.
The upcoming earnings release of Barrick Gold will be of great interest to investors. The company's earnings per share (EPS) are projected to be $0.25, reflecting a 92.31% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $3.13 billion, up 12.89% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Barrick Gold. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 1.53% lower. As of now, Barrick Gold holds a Zacks Rank of #3 (Hold).
Investors should also note Barrick Gold's current valuation metrics, including its Forward P/E ratio of 15.82. This denotes a premium relative to the industry's average Forward P/E of 15.7.
We can also see that GOLD currently has a PEG ratio of 1.11. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Mining - Gold industry currently had an average PEG ratio of 1 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 153, placing it within the bottom 40% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Barrick Gold Corporation (GOLD) : Free Stock Analysis Report
