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Barrick Gold (GOLD) Surpasses Market Returns: Some Facts Worth Knowing
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Barrick Gold (GOLD - Free Report) ended the recent trading session at $17.97, demonstrating a +1.01% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.08%. Elsewhere, the Dow saw a downswing of 0.12%, while the tech-heavy Nasdaq appreciated by 0.07%.
Coming into today, shares of the gold and copper mining company had gained 6.65% in the past month. In that same time, the Basic Materials sector lost 1.43%, while the S&P 500 lost 0.21%.
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. In that report, analysts expect Barrick Gold to post earnings of $0.26 per share. This would mark year-over-year growth of 36.84%. At the same time, our most recent consensus estimate is projecting a revenue of $3.02 billion, reflecting a 6.45% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.16 per share and revenue of $12.9 billion. These totals would mark changes of +38.1% and +13.15%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Barrick Gold. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health 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, 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 witnessed a 7.44% increase. Barrick Gold is holding a Zacks Rank of #2 (Buy) right now.
From a valuation perspective, Barrick Gold is currently exchanging hands at a Forward P/E ratio of 15.39. For comparison, its industry has an average Forward P/E of 15.28, which means Barrick Gold is trading at a premium to the group.
Meanwhile, GOLD's PEG ratio is currently 0.47. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Mining - Gold industry had an average PEG ratio of 0.76 as trading concluded yesterday.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 51, putting it in the top 21% 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.
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) Surpasses Market Returns: Some Facts Worth Knowing
Barrick Gold (GOLD - Free Report) ended the recent trading session at $17.97, demonstrating a +1.01% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.08%. Elsewhere, the Dow saw a downswing of 0.12%, while the tech-heavy Nasdaq appreciated by 0.07%.
Coming into today, shares of the gold and copper mining company had gained 6.65% in the past month. In that same time, the Basic Materials sector lost 1.43%, while the S&P 500 lost 0.21%.
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. In that report, analysts expect Barrick Gold to post earnings of $0.26 per share. This would mark year-over-year growth of 36.84%. At the same time, our most recent consensus estimate is projecting a revenue of $3.02 billion, reflecting a 6.45% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.16 per share and revenue of $12.9 billion. These totals would mark changes of +38.1% and +13.15%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Barrick Gold. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health 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, 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 witnessed a 7.44% increase. Barrick Gold is holding a Zacks Rank of #2 (Buy) right now.
From a valuation perspective, Barrick Gold is currently exchanging hands at a Forward P/E ratio of 15.39. For comparison, its industry has an average Forward P/E of 15.28, which means Barrick Gold is trading at a premium to the group.
Meanwhile, GOLD's PEG ratio is currently 0.47. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Mining - Gold industry had an average PEG ratio of 0.76 as trading concluded yesterday.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 51, putting it in the top 21% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.