Barrick Gold (GOLD) closed the most recent trading day at $18.62, moving -0.48% from the previous trading session. This change was narrower than the S&P 500's 1.57% loss on the day. Elsewhere, the Dow lost 1.57%, while the tech-heavy Nasdaq lost 1.89%.
Prior to today's trading, shares of the gold and copper mining company had gained 1.91% over the past month. This has outpaced the Basic Materials sector's loss of 3.11% and lagged the S&P 500's gain of 2.35% in that time.
GOLD will be looking to display strength as it nears its next earnings release, which is expected to be February 12, 2020. The company is expected to report EPS of $0.15, up 150% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.78 billion, up 46.04% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for GOLD. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.01% higher. GOLD is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that GOLD has a Forward P/E ratio of 26.82 right now. For comparison, its industry has an average Forward P/E of 15.24, which means GOLD is trading at a premium to the group.
It is also worth noting that GOLD currently has a PEG ratio of 13.41. 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. The Mining - Gold was holding an average PEG ratio of 4.33 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 166, which puts it in the bottom 35% 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.
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.