We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Barrick Gold (GOLD) Stock Moves -0.21%: What You Should Know
Read MoreHide Full Article
In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $19.20, marking a -0.21% move from the previous day. This change was narrower than the S&P 500's 0.6% loss on the day. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, lost 2.87%.
Coming into today, shares of the gold and copper mining company had gained 6.89% in the past month. In that same time, the Basic Materials sector gained 7.21%, while the S&P 500 gained 6.22%.
Wall Street will be looking for positivity from Barrick Gold as it approaches its next earnings report date. This is expected to be May 3, 2023. In that report, analysts expect Barrick Gold to post earnings of $0.12 per share. This would mark a year-over-year decline of 53.85%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.21 billion, up 12.43% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.91 per share and revenue of $11.62 billion, which would represent changes of +21.33% and +5.54%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Barrick Gold. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 1.93% higher within the past month. Barrick Gold currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Barrick Gold has a Forward P/E ratio of 21.21 right now. This represents a discount compared to its industry's average Forward P/E of 22.42.
Also, we should mention that GOLD has a PEG ratio of 10.6. 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 4.04 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 94, putting it in the top 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Barrick Gold (GOLD) Stock Moves -0.21%: What You Should Know
In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $19.20, marking a -0.21% move from the previous day. This change was narrower than the S&P 500's 0.6% loss on the day. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, lost 2.87%.
Coming into today, shares of the gold and copper mining company had gained 6.89% in the past month. In that same time, the Basic Materials sector gained 7.21%, while the S&P 500 gained 6.22%.
Wall Street will be looking for positivity from Barrick Gold as it approaches its next earnings report date. This is expected to be May 3, 2023. In that report, analysts expect Barrick Gold to post earnings of $0.12 per share. This would mark a year-over-year decline of 53.85%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.21 billion, up 12.43% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.91 per share and revenue of $11.62 billion, which would represent changes of +21.33% and +5.54%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Barrick Gold. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 1.93% higher within the past month. Barrick Gold currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Barrick Gold has a Forward P/E ratio of 21.21 right now. This represents a discount compared to its industry's average Forward P/E of 22.42.
Also, we should mention that GOLD has a PEG ratio of 10.6. 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 4.04 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 94, putting it in the top 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.