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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 $16.03, marking a +1.33% move from the previous day. The stock lagged the S&P 500's daily gain of 2.76%. Meanwhile, the Dow gained 2.43%, and the Nasdaq, a tech-heavy index, added 0.13%.
Coming into today, shares of the gold and copper mining company had lost 19.08% in the past month. In that same time, the Basic Materials sector lost 12.35%, while the S&P 500 gained 4.44%.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release, which is expected to be August 8, 2022. In that report, analysts expect Barrick Gold to post earnings of $0.25 per share. This would mark a year-over-year decline of 13.79%. Meanwhile, our latest consensus estimate is calling for revenue of $3.16 billion, up 9.19% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.16 per share and revenue of $12.32 billion, which would represent changes of 0% and +2.81%, respectively, from the prior year.
Any recent changes to analyst estimates for Barrick Gold should also be noted by investors. 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.55% lower. Barrick Gold is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Barrick Gold's current valuation metrics, including its Forward P/E ratio of 13.68. Its industry sports an average Forward P/E of 13.68, so we one might conclude that Barrick Gold is trading at a no noticeable deviation comparatively.
It is also worth noting that GOLD currently has a PEG ratio of 6.84. 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 4.71 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 147, putting it in the bottom 42% 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
In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $16.03, marking a +1.33% move from the previous day. The stock lagged the S&P 500's daily gain of 2.76%. Meanwhile, the Dow gained 2.43%, and the Nasdaq, a tech-heavy index, added 0.13%.
Coming into today, shares of the gold and copper mining company had lost 19.08% in the past month. In that same time, the Basic Materials sector lost 12.35%, while the S&P 500 gained 4.44%.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release, which is expected to be August 8, 2022. In that report, analysts expect Barrick Gold to post earnings of $0.25 per share. This would mark a year-over-year decline of 13.79%. Meanwhile, our latest consensus estimate is calling for revenue of $3.16 billion, up 9.19% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.16 per share and revenue of $12.32 billion, which would represent changes of 0% and +2.81%, respectively, from the prior year.
Any recent changes to analyst estimates for Barrick Gold should also be noted by investors. 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.55% lower. Barrick Gold is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Barrick Gold's current valuation metrics, including its Forward P/E ratio of 13.68. Its industry sports an average Forward P/E of 13.68, so we one might conclude that Barrick Gold is trading at a no noticeable deviation comparatively.
It is also worth noting that GOLD currently has a PEG ratio of 6.84. 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 4.71 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 147, putting it in the bottom 42% 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.