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Barrick Gold (GOLD) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $15.52, marking a -1.27% move from the previous day. This change lagged the S&P 500's 0.67% loss on the day. At the same time, the Dow lost 1.23%, and the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the gold and copper mining company had lost 12.96% over the past month, lagging the Basic Materials sector's gain of 2.01% and the S&P 500's gain of 7.79% in that time.
Barrick Gold will be looking to display strength as it nears its next earnings release, which is expected to be August 8, 2022. On that day, Barrick Gold is projected to report earnings of $0.23 per share, which would represent a year-over-year decline of 20.69%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.07 billion, up 6.05% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.06 per share and revenue of $12.15 billion. These totals would mark changes of -8.62% and +1.34%, respectively, from last year.
It is also important to note the 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. 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 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 11.58% lower within the past month. 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 14.83. For comparison, its industry has an average Forward P/E of 17.67, which means Barrick Gold is trading at a discount to the group.
Meanwhile, GOLD's PEG ratio is currently 7.41. 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 5.15 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 96, which puts it in the top 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Barrick Gold (GOLD) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $15.52, marking a -1.27% move from the previous day. This change lagged the S&P 500's 0.67% loss on the day. At the same time, the Dow lost 1.23%, and the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the gold and copper mining company had lost 12.96% over the past month, lagging the Basic Materials sector's gain of 2.01% and the S&P 500's gain of 7.79% in that time.
Barrick Gold will be looking to display strength as it nears its next earnings release, which is expected to be August 8, 2022. On that day, Barrick Gold is projected to report earnings of $0.23 per share, which would represent a year-over-year decline of 20.69%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.07 billion, up 6.05% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.06 per share and revenue of $12.15 billion. These totals would mark changes of -8.62% and +1.34%, respectively, from last year.
It is also important to note the 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. 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 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 11.58% lower within the past month. 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 14.83. For comparison, its industry has an average Forward P/E of 17.67, which means Barrick Gold is trading at a discount to the group.
Meanwhile, GOLD's PEG ratio is currently 7.41. 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 5.15 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 96, which puts it in the top 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.