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Barrick Gold (GOLD) Gains As Market Dips: What You Should Know
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In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $19.04, marking a +1.38% move from the previous day. This move outpaced the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, lost 0.11%.
Coming into today, shares of the gold and copper mining company had lost 8.83% in the past month. In that same time, the Basic Materials sector lost 12.25%, while the S&P 500 lost 0.62%.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release. On that day, Barrick Gold is projected to report earnings of $0.29 per share, which would represent no growth from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.16 billion, up 9.19% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $1.20 per share and revenue of $12.31 billion. These results would represent year-over-year changes of +3.45% and +2.68%, respectively.
Any recent changes to analyst estimates for Barrick Gold should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 1.53% lower within the past month. 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 15.67. For comparison, its industry has an average Forward P/E of 16.93, which means Barrick Gold is trading at a discount to the group.
Also, we should mention that GOLD has a PEG ratio of 7.83. 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 was holding an average PEG ratio of 2.89 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 109, putting it in the top 44% 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 As Market Dips: What You Should Know
In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $19.04, marking a +1.38% move from the previous day. This move outpaced the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, lost 0.11%.
Coming into today, shares of the gold and copper mining company had lost 8.83% in the past month. In that same time, the Basic Materials sector lost 12.25%, while the S&P 500 lost 0.62%.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release. On that day, Barrick Gold is projected to report earnings of $0.29 per share, which would represent no growth from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.16 billion, up 9.19% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $1.20 per share and revenue of $12.31 billion. These results would represent year-over-year changes of +3.45% and +2.68%, respectively.
Any recent changes to analyst estimates for Barrick Gold should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 1.53% lower within the past month. 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 15.67. For comparison, its industry has an average Forward P/E of 16.93, which means Barrick Gold is trading at a discount to the group.
Also, we should mention that GOLD has a PEG ratio of 7.83. 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 was holding an average PEG ratio of 2.89 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 109, putting it in the top 44% 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.