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Barrick Gold (GOLD) Gains But Lags Market: What You Should Know
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In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $16.66, marking a +0.54% move from the previous day. This move lagged the S&P 500's daily gain of 1.15%. At the same time, the Dow added 0.63%, and the tech-heavy Nasdaq gained 7.23%.
Heading into today, shares of the gold and copper mining company had lost 2.47% over the past month, lagging the Basic Materials sector's gain of 4.33% and the S&P 500's gain of 3.08% in that time.
Barrick Gold will be looking to display strength as it nears its next earnings release. In that report, analysts expect Barrick Gold to post earnings of $0.22 per share. This would mark a year-over-year decline of 8.33%. Meanwhile, our latest consensus estimate is calling for revenue of $3.4 billion, up 18.82% from the prior-year quarter.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $0.95 per share and revenue of $11.72 billion. These results would represent year-over-year changes of +26.67% and +6.46%, respectively.
Any recent changes to analyst estimates for Barrick Gold should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.22% higher. Barrick Gold is currently a Zacks Rank #3 (Hold).
Digging into valuation, Barrick Gold currently has a Forward P/E ratio of 17.5. This represents a discount compared to its industry's average Forward P/E of 21.76.
Meanwhile, GOLD's PEG ratio is currently 8.75. 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 4.05 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% 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) Gains But Lags Market: What You Should Know
In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $16.66, marking a +0.54% move from the previous day. This move lagged the S&P 500's daily gain of 1.15%. At the same time, the Dow added 0.63%, and the tech-heavy Nasdaq gained 7.23%.
Heading into today, shares of the gold and copper mining company had lost 2.47% over the past month, lagging the Basic Materials sector's gain of 4.33% and the S&P 500's gain of 3.08% in that time.
Barrick Gold will be looking to display strength as it nears its next earnings release. In that report, analysts expect Barrick Gold to post earnings of $0.22 per share. This would mark a year-over-year decline of 8.33%. Meanwhile, our latest consensus estimate is calling for revenue of $3.4 billion, up 18.82% from the prior-year quarter.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $0.95 per share and revenue of $11.72 billion. These results would represent year-over-year changes of +26.67% and +6.46%, respectively.
Any recent changes to analyst estimates for Barrick Gold should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.22% higher. Barrick Gold is currently a Zacks Rank #3 (Hold).
Digging into valuation, Barrick Gold currently has a Forward P/E ratio of 17.5. This represents a discount compared to its industry's average Forward P/E of 21.76.
Meanwhile, GOLD's PEG ratio is currently 8.75. 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 4.05 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% 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.