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Barrick Gold (GOLD) Dips More Than Broader Markets: What You Should Know
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Barrick Gold (GOLD - Free Report) closed at $24.46 in the latest trading session, marking a -1.61% move from the prior day. This move lagged the S&P 500's daily loss of 1.26%. Elsewhere, the Dow lost 0.8%, while the tech-heavy Nasdaq lost 0.44%.
Heading into today, shares of the gold and copper mining company had 0% over the past month, lagging the Basic Materials sector's gain of 6.12% and the S&P 500's gain of 6.07% in that time.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release, which is expected to be May 4, 2022. The company is expected to report EPS of $0.27, down 6.9% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.97 billion, up 0.46% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.15 per share and revenue of $11.92 billion, which would represent changes of -0.86% and -0.52%, respectively, from the prior year.
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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 1.43% higher within the past month. Barrick Gold is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Barrick Gold has a Forward P/E ratio of 21.59 right now. For comparison, its industry has an average Forward P/E of 21.88, which means Barrick Gold is trading at a discount to the group.
Also, we should mention that GOLD has a PEG ratio of 10.8. 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 3.98 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 184, which puts it in the bottom 28% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Barrick Gold (GOLD) Dips More Than Broader Markets: What You Should Know
Barrick Gold (GOLD - Free Report) closed at $24.46 in the latest trading session, marking a -1.61% move from the prior day. This move lagged the S&P 500's daily loss of 1.26%. Elsewhere, the Dow lost 0.8%, while the tech-heavy Nasdaq lost 0.44%.
Heading into today, shares of the gold and copper mining company had 0% over the past month, lagging the Basic Materials sector's gain of 6.12% and the S&P 500's gain of 6.07% in that time.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release, which is expected to be May 4, 2022. The company is expected to report EPS of $0.27, down 6.9% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.97 billion, up 0.46% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.15 per share and revenue of $11.92 billion, which would represent changes of -0.86% and -0.52%, respectively, from the prior year.
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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 1.43% higher within the past month. Barrick Gold is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Barrick Gold has a Forward P/E ratio of 21.59 right now. For comparison, its industry has an average Forward P/E of 21.88, which means Barrick Gold is trading at a discount to the group.
Also, we should mention that GOLD has a PEG ratio of 10.8. 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 3.98 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 184, which puts it in the bottom 28% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.