Barrick Gold (GOLD) Stock Sinks As Market Gains: What You Should Know
Barrick Gold (GOLD) ended the recent trading session at $15.59, demonstrating a -0.13% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.22%. On the other hand, the Dow registered a gain of 0.36%, and the technology-centric Nasdaq increased by 0.32%.
Shares of the gold and copper mining company have depreciated by 14.04% over the course of the past month, underperforming the Basic Materials sector's loss of 7.44% and the S&P 500's gain of 1.61%.
Market participants will be closely following the financial results of Barrick Gold in its upcoming release. The company plans to announce its earnings on February 14, 2024. The company's upcoming EPS is projected at $0.22, signifying a 69.23% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $3.13 billion, up 12.89% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Barrick Gold. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.51% lower within the past month. Barrick Gold is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Barrick Gold is presently trading at a Forward P/E ratio of 13.97. This indicates a discount in contrast to its industry's Forward P/E of 14.71.
It is also worth noting that GOLD currently has a PEG ratio of 0.98. 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. Mining - Gold stocks are, on average, holding a PEG ratio of 0.98 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 211, putting it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
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
