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Barrick Gold (GOLD) Outpaces Stock Market Gains: What You Should Know
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Barrick Gold (GOLD - Free Report) closed the most recent trading day at $22.36, moving +1.68% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.98%. Elsewhere, the Dow gained 0.99%, while the tech-heavy Nasdaq added 0.5%.
GOLD will be looking to display strength as it nears its next earnings release, which is expected to be February 18, 2021. In that report, analysts expect GOLD to post earnings of $0.30 per share. This would mark year-over-year growth of 76.47%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.11 billion, up 7.83% from the year-ago period.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, 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 0.86% lower. GOLD is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that GOLD has a Forward P/E ratio of 17.67 right now. This represents a premium compared to its industry's average Forward P/E of 11.85.
It is also worth noting that GOLD currently has a PEG ratio of 8.84. 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. GOLD's industry had an average PEG ratio of 1.68 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 227, which puts it in the bottom 11% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Barrick Gold (GOLD) Outpaces Stock Market Gains: What You Should Know
Barrick Gold (GOLD - Free Report) closed the most recent trading day at $22.36, moving +1.68% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.98%. Elsewhere, the Dow gained 0.99%, while the tech-heavy Nasdaq added 0.5%.
GOLD will be looking to display strength as it nears its next earnings release, which is expected to be February 18, 2021. In that report, analysts expect GOLD to post earnings of $0.30 per share. This would mark year-over-year growth of 76.47%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.11 billion, up 7.83% from the year-ago period.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, 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 0.86% lower. GOLD is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that GOLD has a Forward P/E ratio of 17.67 right now. This represents a premium compared to its industry's average Forward P/E of 11.85.
It is also worth noting that GOLD currently has a PEG ratio of 8.84. 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. GOLD's industry had an average PEG ratio of 1.68 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 227, which puts it in the bottom 11% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.