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Barrick Gold (GOLD) Declines More Than Market: Some Information for Investors
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In the latest market close, Barrick Gold (GOLD - Free Report) reached $18.88, with a -1.92% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily loss of 1.39%. At the same time, the Dow added 0.6%, and the tech-heavy Nasdaq lost 2.77%.
Shares of the gold and copper mining company have appreciated by 17.31% over the course of the past month, outperforming the Basic Materials sector's gain of 2.27% and the S&P 500's gain of 4.43%.
The investment community will be closely monitoring the performance of Barrick Gold in its forthcoming earnings report. The company is scheduled to release its earnings on August 12, 2024. In that report, analysts expect Barrick Gold to post earnings of $0.25 per share. This would mark year-over-year growth of 31.58%. Meanwhile, our latest consensus estimate is calling for revenue of $3.02 billion, up 6.45% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.11 per share and revenue of $12.95 billion. These totals would mark changes of +32.14% and +13.64%, respectively, from last year.
Investors might also notice 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 4.7% higher. Barrick Gold is currently sporting a Zacks Rank of #2 (Buy).
With respect to valuation, Barrick Gold is currently being traded at a Forward P/E ratio of 17.28. This signifies a premium in comparison to the average Forward P/E of 17.15 for its industry.
Meanwhile, GOLD's PEG ratio is currently 0.53. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Mining - Gold was holding an average PEG ratio of 0.8 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 34, this industry ranks in the top 14% of all industries, numbering over 250.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Barrick Gold (GOLD) Declines More Than Market: Some Information for Investors
In the latest market close, Barrick Gold (GOLD - Free Report) reached $18.88, with a -1.92% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily loss of 1.39%. At the same time, the Dow added 0.6%, and the tech-heavy Nasdaq lost 2.77%.
Shares of the gold and copper mining company have appreciated by 17.31% over the course of the past month, outperforming the Basic Materials sector's gain of 2.27% and the S&P 500's gain of 4.43%.
The investment community will be closely monitoring the performance of Barrick Gold in its forthcoming earnings report. The company is scheduled to release its earnings on August 12, 2024. In that report, analysts expect Barrick Gold to post earnings of $0.25 per share. This would mark year-over-year growth of 31.58%. Meanwhile, our latest consensus estimate is calling for revenue of $3.02 billion, up 6.45% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.11 per share and revenue of $12.95 billion. These totals would mark changes of +32.14% and +13.64%, respectively, from last year.
Investors might also notice 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 4.7% higher. Barrick Gold is currently sporting a Zacks Rank of #2 (Buy).
With respect to valuation, Barrick Gold is currently being traded at a Forward P/E ratio of 17.28. This signifies a premium in comparison to the average Forward P/E of 17.15 for its industry.
Meanwhile, GOLD's PEG ratio is currently 0.53. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Mining - Gold was holding an average PEG ratio of 0.8 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 34, this industry ranks in the top 14% of all industries, numbering over 250.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.