Barrick Gold (GOLD) closed the most recent trading day at $14.55, moving -0.07% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.27%. Meanwhile, the Dow lost 0.47%, and the Nasdaq, a tech-heavy index, added 0.14%.
Coming into today, shares of the gold and copper mining company had lost 10.18% in the past month. In that same time, the Basic Materials sector gained 1.04%, while the S&P 500 lost 2.86%.
Barrick Gold will be looking to display strength as it nears its next earnings release. On that day, Barrick Gold is projected to report earnings of $0.27 per share, which would represent year-over-year growth of 107.69%. Meanwhile, our latest consensus estimate is calling for revenue of $3 billion, up 18.67% from the prior-year quarter.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $0.89 per share and revenue of $11.88 billion. These results would represent year-over-year changes of +18.67% and +7.85%, respectively.
Investors might also notice recent changes to analyst estimates for Barrick Gold. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Barrick Gold currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Barrick Gold is currently trading at a Forward P/E ratio of 16.44. This valuation marks a discount compared to its industry's average Forward P/E of 19.18.
Investors should also note that GOLD has a PEG ratio of 8.22 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Mining - Gold stocks are, on average, holding a PEG ratio of 2.92 based on yesterday's closing prices.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 180, putting it in the bottom 29% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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