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Barrick Gold (GOLD) closed the most recent trading day at $17.22, moving -1.15% from the previous trading session. This change lagged the S&P 500's 0.36% gain on the day. At the same time, the Dow added 0.23%, and the tech-heavy Nasdaq lost 0.1%.
Heading into today, shares of the gold and copper mining company had lost 16.01% over the past month, outpacing the Basic Materials sector's loss of 25.75% and lagging the S&P 500's loss of 6.59% in that time.
Barrick Gold will be looking to display strength as it nears its next earnings release. In that report, analysts expect Barrick Gold to post earnings of $0.29 per share. This would mark no growth from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.16 billion, up 9.19% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.20 per share and revenue of $12.35 billion. These totals would mark changes of +3.45% and +3.04%, respectively, from last year.
Any recent changes to analyst estimates for Barrick Gold should also be noted by investors. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate has moved 0.58% lower within the past month. Barrick Gold is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Barrick Gold is holding a Forward P/E ratio of 14.53. Its industry sports an average Forward P/E of 14.53, so we one might conclude that Barrick Gold is trading at a no noticeable deviation comparatively.
Also, we should mention that GOLD has a PEG ratio of 7.27. 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 was holding an average PEG ratio of 4.51 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 141, which puts it in the bottom 45% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Barrick Gold Corporation (GOLD) : Free Stock Analysis Report
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