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Barrick Gold (GOLD) Gains But Lags Market: What You Should Know
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Barrick Gold (GOLD - Free Report) closed at $17.25 in the latest trading session, marking a +0.17% move from the prior day. This change lagged the S&P 500's 1.5% gain on the day. At the same time, the Dow added 1.12%, and the tech-heavy Nasdaq gained 0.32%.
Heading into today, shares of the gold and copper mining company had lost 17.09% over the past month, outpacing the Basic Materials sector's loss of 26.33% and lagging the S&P 500's loss of 6.54% in that time.
Wall Street will be looking for positivity from Barrick Gold as it approaches its next earnings report date. In that report, analysts expect Barrick Gold to post earnings of $0.29 per share. This would mark 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.20 per share and revenue of $12.35 billion, which would represent changes of +3.45% and +3.04%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Barrick Gold. These recent revisions tend to reflect the evolving nature of short-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 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.58% lower. Barrick Gold currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Barrick Gold has a Forward P/E ratio of 14.36 right now. Its industry sports an average Forward P/E of 14.36, so we one might conclude that Barrick Gold is trading at a no noticeable deviation comparatively.
Meanwhile, GOLD's PEG ratio is currently 7.18. 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. The Mining - Gold was holding an average PEG ratio of 4.46 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 146, putting it in the bottom 43% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Barrick Gold (GOLD) Gains But Lags Market: What You Should Know
Barrick Gold (GOLD - Free Report) closed at $17.25 in the latest trading session, marking a +0.17% move from the prior day. This change lagged the S&P 500's 1.5% gain on the day. At the same time, the Dow added 1.12%, and the tech-heavy Nasdaq gained 0.32%.
Heading into today, shares of the gold and copper mining company had lost 17.09% over the past month, outpacing the Basic Materials sector's loss of 26.33% and lagging the S&P 500's loss of 6.54% in that time.
Wall Street will be looking for positivity from Barrick Gold as it approaches its next earnings report date. In that report, analysts expect Barrick Gold to post earnings of $0.29 per share. This would mark 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.20 per share and revenue of $12.35 billion, which would represent changes of +3.45% and +3.04%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Barrick Gold. These recent revisions tend to reflect the evolving nature of short-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 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.58% lower. Barrick Gold currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Barrick Gold has a Forward P/E ratio of 14.36 right now. Its industry sports an average Forward P/E of 14.36, so we one might conclude that Barrick Gold is trading at a no noticeable deviation comparatively.
Meanwhile, GOLD's PEG ratio is currently 7.18. 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. The Mining - Gold was holding an average PEG ratio of 4.46 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 146, putting it in the bottom 43% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.