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Barrick Gold (GOLD) Stock Sinks As Market Gains: Here's Why
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In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $16.59, marking a -0.78% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.09%. On the other hand, the Dow registered a loss of 0.1%, and the technology-centric Nasdaq increased by 0.16%.
The gold and copper mining company's stock has dropped by 1.76% in the past month, exceeding the Basic Materials sector's loss of 3.97% and lagging the S&P 500's gain of 2.83%.
Analysts and investors alike will be keeping a close eye on the performance of Barrick Gold in its upcoming earnings disclosure. On that day, Barrick Gold is projected to report earnings of $0.27 per share, which would represent year-over-year growth of 42.11%. Meanwhile, our latest consensus estimate is calling for revenue of $3.02 billion, up 6.45% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.06 per share and a revenue of $12.59 billion, signifying shifts of +26.19% and +10.48%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Barrick Gold. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 4.2% higher. At present, Barrick Gold boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Barrick Gold is currently exchanging hands at a Forward P/E ratio of 15.71. This represents a premium compared to its industry's average Forward P/E of 15.07.
It is also worth noting that GOLD currently has a PEG ratio of 0.48. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. GOLD's industry had an average PEG ratio of 0.72 as of yesterday's close.
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 evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Barrick Gold (GOLD) Stock Sinks As Market Gains: Here's Why
In the latest trading session, Barrick Gold (GOLD - Free Report) closed at $16.59, marking a -0.78% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.09%. On the other hand, the Dow registered a loss of 0.1%, and the technology-centric Nasdaq increased by 0.16%.
The gold and copper mining company's stock has dropped by 1.76% in the past month, exceeding the Basic Materials sector's loss of 3.97% and lagging the S&P 500's gain of 2.83%.
Analysts and investors alike will be keeping a close eye on the performance of Barrick Gold in its upcoming earnings disclosure. On that day, Barrick Gold is projected to report earnings of $0.27 per share, which would represent year-over-year growth of 42.11%. Meanwhile, our latest consensus estimate is calling for revenue of $3.02 billion, up 6.45% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.06 per share and a revenue of $12.59 billion, signifying shifts of +26.19% and +10.48%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Barrick Gold. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 4.2% higher. At present, Barrick Gold boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Barrick Gold is currently exchanging hands at a Forward P/E ratio of 15.71. This represents a premium compared to its industry's average Forward P/E of 15.07.
It is also worth noting that GOLD currently has a PEG ratio of 0.48. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. GOLD's industry had an average PEG ratio of 0.72 as of yesterday's close.
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 evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.