Barrick Gold (GOLD) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Barrick Gold (GOLD) closed at $18.23, marking a -1.19% move from the previous day. This move lagged the S&P 500's daily gain of 1.21%.
Heading into today, shares of the gold and copper mining company had lost 7.05% over the past month, lagging the Basic Materials sector's loss of 3.02% and the S&P 500's loss of 0.9% 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 $0.32 per share, which would represent a year-over-year decline of 21.95%. Meanwhile, our latest consensus estimate is calling for revenue of $3.26 billion, down 7.82% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.25 per share and revenue of $12.46 billion, which would represent changes of +8.7% and -1.1%, respectively, from the prior year.
Any recent changes to analyst estimates for GOLD should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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. 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.
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 0.34% higher. GOLD currently has a Zacks Rank of #3 (Hold).
Investors should also note GOLD's current valuation metrics, including its Forward P/E ratio of 14.74. This represents a premium compared to its industry's average Forward P/E of 14.
We can also see that GOLD currently has a PEG ratio of 7.37. 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 2.73 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 191, which puts it in the bottom 25% 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.
To follow GOLD in the coming trading sessions, be sure to utilize Zacks.com.
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