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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 the most recent trading day at $15.27, moving -1.36% from the previous trading session. This move lagged the S&P 500's daily loss of 0.75%. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 0.07%.
Coming into today, shares of the gold and copper mining company had lost 2.76% in the past month. In that same time, the Basic Materials sector lost 3.29%, while the S&P 500 lost 8.4%.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release. The company is expected to report EPS of $0.23, down 4.17% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.09 billion, up 9.27% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $1.01 per share and revenue of $11.71 billion. These results would represent year-over-year changes of -12.93% and -2.31%, respectively.
It is also important to note the recent changes to analyst estimates for Barrick Gold. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.05% lower. Barrick Gold is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Barrick Gold currently has a Forward P/E ratio of 15.38. This valuation marks a discount compared to its industry's average Forward P/E of 17.29.
We can also see that GOLD currently has a PEG ratio of 7.69. 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 industry currently had an average PEG ratio of 3.42 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 141, putting it in the bottom 45% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GOLD in the coming trading sessions, be sure to utilize Zacks.com.
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Barrick Gold (GOLD) Dips More Than Broader Markets: What You Should Know
Barrick Gold (GOLD - Free Report) closed the most recent trading day at $15.27, moving -1.36% from the previous trading session. This move lagged the S&P 500's daily loss of 0.75%. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 0.07%.
Coming into today, shares of the gold and copper mining company had lost 2.76% in the past month. In that same time, the Basic Materials sector lost 3.29%, while the S&P 500 lost 8.4%.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release. The company is expected to report EPS of $0.23, down 4.17% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.09 billion, up 9.27% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $1.01 per share and revenue of $11.71 billion. These results would represent year-over-year changes of -12.93% and -2.31%, respectively.
It is also important to note the recent changes to analyst estimates for Barrick Gold. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.05% lower. Barrick Gold is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Barrick Gold currently has a Forward P/E ratio of 15.38. This valuation marks a discount compared to its industry's average Forward P/E of 17.29.
We can also see that GOLD currently has a PEG ratio of 7.69. 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 industry currently had an average PEG ratio of 3.42 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 141, putting it in the bottom 45% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GOLD in the coming trading sessions, be sure to utilize Zacks.com.