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Barrick Gold (GOLD) Gains But Lags Market: What You Should Know
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In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $18.57, marking a +0.22% move from the previous day. The stock lagged the S&P 500's daily gain of 0.62%. Elsewhere, the Dow gained 0.55%, while the tech-heavy Nasdaq lost 0.03%.
Prior to today's trading, shares of the gold and copper mining company had lost 4.23% over the past month. This has lagged the Basic Materials sector's gain of 0.31% and the S&P 500's gain of 0.87% in that time.
Barrick Gold will be looking to display strength as it nears its next earnings release. On that day, Barrick Gold is projected to report earnings of $0.30 per share, which would represent a year-over-year decline of 14.29%. Our most recent consensus estimate is calling for quarterly revenue of $3.32 billion, up 1.17% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.11 per share and revenue of $11.94 billion, which would represent changes of -3.48% and -5.22%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Barrick Gold. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 0.89% lower within the past month. Barrick Gold is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Barrick Gold has a Forward P/E ratio of 16.75 right now. For comparison, its industry has an average Forward P/E of 16.42, which means Barrick Gold is trading at a premium to the group.
We can also see that GOLD currently has a PEG ratio of 8.37. 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. Mining - Gold stocks are, on average, holding a PEG ratio of 2.57 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 174, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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 (GOLD) Gains But Lags Market: What You Should Know
In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $18.57, marking a +0.22% move from the previous day. The stock lagged the S&P 500's daily gain of 0.62%. Elsewhere, the Dow gained 0.55%, while the tech-heavy Nasdaq lost 0.03%.
Prior to today's trading, shares of the gold and copper mining company had lost 4.23% over the past month. This has lagged the Basic Materials sector's gain of 0.31% and the S&P 500's gain of 0.87% in that time.
Barrick Gold will be looking to display strength as it nears its next earnings release. On that day, Barrick Gold is projected to report earnings of $0.30 per share, which would represent a year-over-year decline of 14.29%. Our most recent consensus estimate is calling for quarterly revenue of $3.32 billion, up 1.17% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.11 per share and revenue of $11.94 billion, which would represent changes of -3.48% and -5.22%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Barrick Gold. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 0.89% lower within the past month. Barrick Gold is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Barrick Gold has a Forward P/E ratio of 16.75 right now. For comparison, its industry has an average Forward P/E of 16.42, which means Barrick Gold is trading at a premium to the group.
We can also see that GOLD currently has a PEG ratio of 8.37. 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. Mining - Gold stocks are, on average, holding a PEG ratio of 2.57 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 174, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.