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Why the Market Dipped But Barrick Gold (GOLD) Gained Today
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The latest trading session saw Barrick Gold (GOLD - Free Report) ending at $18.57, denoting a +1.14% adjustment from its last day's close. This move outpaced the S&P 500's daily loss of 0.16%. Elsewhere, the Dow saw a downswing of 0.14%, while the tech-heavy Nasdaq depreciated by 0.06%.
The the stock of gold and copper mining company has risen by 9.81% in the past month, leading the Basic Materials sector's loss of 1.64% and the S&P 500's gain of 1.96%.
The investment community will be paying close attention to the earnings performance of Barrick Gold in its upcoming release. The company is slated to reveal its earnings on August 12, 2024. The company is forecasted to report an EPS of $0.26, showcasing a 36.84% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $3.02 billion, up 6.45% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.16 per share and revenue of $12.9 billion, which would represent changes of +38.1% and +13.15%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Barrick Gold. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Within the past 30 days, our consensus EPS projection has moved 8.59% higher. Barrick Gold currently has a Zacks Rank of #2 (Buy).
In the context of valuation, Barrick Gold is at present trading with a Forward P/E ratio of 15.89. Its industry sports an average Forward P/E of 15.81, so one might conclude that Barrick Gold is trading at a premium comparatively.
One should further note that GOLD currently holds a PEG ratio of 0.48. 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 0.77 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 32, positioning it in the top 13% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Why the Market Dipped But Barrick Gold (GOLD) Gained Today
The latest trading session saw Barrick Gold (GOLD - Free Report) ending at $18.57, denoting a +1.14% adjustment from its last day's close. This move outpaced the S&P 500's daily loss of 0.16%. Elsewhere, the Dow saw a downswing of 0.14%, while the tech-heavy Nasdaq depreciated by 0.06%.
The the stock of gold and copper mining company has risen by 9.81% in the past month, leading the Basic Materials sector's loss of 1.64% and the S&P 500's gain of 1.96%.
The investment community will be paying close attention to the earnings performance of Barrick Gold in its upcoming release. The company is slated to reveal its earnings on August 12, 2024. The company is forecasted to report an EPS of $0.26, showcasing a 36.84% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $3.02 billion, up 6.45% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.16 per share and revenue of $12.9 billion, which would represent changes of +38.1% and +13.15%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Barrick Gold. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Within the past 30 days, our consensus EPS projection has moved 8.59% higher. Barrick Gold currently has a Zacks Rank of #2 (Buy).
In the context of valuation, Barrick Gold is at present trading with a Forward P/E ratio of 15.89. Its industry sports an average Forward P/E of 15.81, so one might conclude that Barrick Gold is trading at a premium comparatively.
One should further note that GOLD currently holds a PEG ratio of 0.48. 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 0.77 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 32, positioning it in the top 13% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.