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Barrick Gold (GOLD) Stock Moves -0.53%: What You Should Know
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In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $18.78, marking a -0.53% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.17%. Meanwhile, the Dow lost 1.02%, and the Nasdaq, a tech-heavy index, lost 2.45%.
Prior to today's trading, shares of the gold and copper mining company had gained 11.98% over the past month. This has outpaced the Basic Materials sector's loss of 4.04% and the S&P 500's loss of 5.25% in that time.
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 $0.18 per share, which would represent a year-over-year decline of 48.57%. Our most recent consensus estimate is calling for quarterly revenue of $3.15 billion, down 4.97% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Barrick Gold. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, 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. The Zacks Consensus EPS estimate has moved 0.17% higher 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 22.55. This valuation marks a premium compared to its industry's average Forward P/E of 21.
Also, we should mention that GOLD has a PEG ratio of 11.28. 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 4.2 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 68, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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) Stock Moves -0.53%: What You Should Know
In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $18.78, marking a -0.53% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.17%. Meanwhile, the Dow lost 1.02%, and the Nasdaq, a tech-heavy index, lost 2.45%.
Prior to today's trading, shares of the gold and copper mining company had gained 11.98% over the past month. This has outpaced the Basic Materials sector's loss of 4.04% and the S&P 500's loss of 5.25% in that time.
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 $0.18 per share, which would represent a year-over-year decline of 48.57%. Our most recent consensus estimate is calling for quarterly revenue of $3.15 billion, down 4.97% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Barrick Gold. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, 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. The Zacks Consensus EPS estimate has moved 0.17% higher 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 22.55. This valuation marks a premium compared to its industry's average Forward P/E of 21.
Also, we should mention that GOLD has a PEG ratio of 11.28. 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 4.2 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 68, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.