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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 at $18.38 in the latest trading session, marking a -1.97% move from the prior day. This move lagged the S&P 500's daily loss of 1.56%. Meanwhile, the Dow lost 1.81%, and the Nasdaq, a tech-heavy index, lost 4.66%.
Coming into today, shares of the gold and copper mining company had gained 8.51% in the past month. In that same time, the Basic Materials sector gained 8.09%, while the S&P 500 gained 3.82%.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release, which is expected to be February 15, 2023. The company is expected to report EPS of $0.18, down 48.57% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.15 billion, down 4.97% from the prior-year quarter.
Any recent changes to analyst estimates for Barrick Gold should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 remained stagnant within the past month. Barrick Gold is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Barrick Gold currently has a Forward P/E ratio of 22.4. For comparison, its industry has an average Forward P/E of 22.2, which means Barrick Gold is trading at a premium to the group.
We can also see that GOLD currently has a PEG ratio of 11.2. 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 3.78 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 66, which puts it in the top 27% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Barrick Gold (GOLD) Dips More Than Broader Markets: What You Should Know
Barrick Gold (GOLD - Free Report) closed at $18.38 in the latest trading session, marking a -1.97% move from the prior day. This move lagged the S&P 500's daily loss of 1.56%. Meanwhile, the Dow lost 1.81%, and the Nasdaq, a tech-heavy index, lost 4.66%.
Coming into today, shares of the gold and copper mining company had gained 8.51% in the past month. In that same time, the Basic Materials sector gained 8.09%, while the S&P 500 gained 3.82%.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release, which is expected to be February 15, 2023. The company is expected to report EPS of $0.18, down 48.57% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.15 billion, down 4.97% from the prior-year quarter.
Any recent changes to analyst estimates for Barrick Gold should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 remained stagnant within the past month. Barrick Gold is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Barrick Gold currently has a Forward P/E ratio of 22.4. For comparison, its industry has an average Forward P/E of 22.2, which means Barrick Gold is trading at a premium to the group.
We can also see that GOLD currently has a PEG ratio of 11.2. 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 3.78 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 66, which puts it in the top 27% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.