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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 at $24.53 in the latest trading session, marking a +1.24% move from the prior day. This move outpaced the S&P 500's daily gain of 1.23%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 0.44%.
Coming into today, shares of the gold and copper mining company had gained 7.35% in the past month. In that same time, the Basic Materials sector gained 9.15%, while the S&P 500 gained 4.69%.
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 $0.27 per share. This would mark a year-over-year decline of 6.9%. Our most recent consensus estimate is calling for quarterly revenue of $2.97 billion, up 0.46% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $1.15 per share and revenue of $11.92 billion. These results would represent year-over-year changes of -0.86% and -0.52%, respectively.
Investors should also note any recent changes to analyst estimates for Barrick Gold. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 1.43% higher. Barrick Gold is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Barrick Gold is currently trading at a Forward P/E ratio of 21.05. For comparison, its industry has an average Forward P/E of 20.91, which means Barrick Gold is trading at a premium to the group.
We can also see that GOLD currently has a PEG ratio of 10.52. 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 3.49 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 178, putting it in the bottom 30% 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.
To follow GOLD in the coming trading sessions, be sure to utilize Zacks.com.
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Barrick Gold (GOLD) Outpaces Stock Market Gains: What You Should Know
Barrick Gold (GOLD - Free Report) closed at $24.53 in the latest trading session, marking a +1.24% move from the prior day. This move outpaced the S&P 500's daily gain of 1.23%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 0.44%.
Coming into today, shares of the gold and copper mining company had gained 7.35% in the past month. In that same time, the Basic Materials sector gained 9.15%, while the S&P 500 gained 4.69%.
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 $0.27 per share. This would mark a year-over-year decline of 6.9%. Our most recent consensus estimate is calling for quarterly revenue of $2.97 billion, up 0.46% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $1.15 per share and revenue of $11.92 billion. These results would represent year-over-year changes of -0.86% and -0.52%, respectively.
Investors should also note any recent changes to analyst estimates for Barrick Gold. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 1.43% higher. Barrick Gold is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Barrick Gold is currently trading at a Forward P/E ratio of 21.05. For comparison, its industry has an average Forward P/E of 20.91, which means Barrick Gold is trading at a premium to the group.
We can also see that GOLD currently has a PEG ratio of 10.52. 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 3.49 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 178, putting it in the bottom 30% 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.
To follow GOLD in the coming trading sessions, be sure to utilize Zacks.com.