Barrick Gold (GOLD) Stock Moves -0.32%: What You Should Know
Barrick Gold (GOLD) closed the most recent trading day at $15.57, moving -0.32% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.85%. Elsewhere, the Dow lost 1.66%, while the tech-heavy Nasdaq lost 10.91%.
Coming into today, shares of the gold and copper mining company had lost 14.83% in the past month. In that same time, the Basic Materials sector lost 1.25%, while the S&P 500 lost 2.85%.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release. The company is expected to report EPS of $0.17, down 34.62% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.21 billion, up 12.43% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.89 per share and revenue of $11.62 billion. These totals would mark changes of +18.67% and +5.54%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Barrick Gold. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 2.2% lower. Barrick Gold is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Barrick Gold's current valuation metrics, including its Forward P/E ratio of 17.55. Its industry sports an average Forward P/E of 15.92, so we one might conclude that Barrick Gold is trading at a premium comparatively.
We can also see that GOLD currently has a PEG ratio of 8.78. 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. GOLD's industry had an average PEG ratio of 3.71 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 153, which puts it in the bottom 40% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Barrick Gold Corporation (GOLD) : Free Stock Analysis Report
