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Barrick Gold (GOLD) Declines More Than Market: Some Information for Investors
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Barrick Gold (GOLD - Free Report) closed the most recent trading day at $18.24, moving -1.46% from the previous trading session. This change lagged the S&P 500's 1.37% loss on the day. On the other hand, the Dow registered a loss of 1.21%, and the technology-centric Nasdaq decreased by 2.3%.
The gold and copper mining company's stock has climbed by 6.99% in the past month, exceeding the Basic Materials sector's loss of 0.16% and the S&P 500's gain of 1.11%.
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, the latest consensus estimate predicts the revenue to be $3.02 billion, indicating a 6.45% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.16 per share and a revenue of $12.9 billion, indicating changes of +38.1% and +13.15%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Barrick Gold. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 past month, the Zacks Consensus EPS estimate has shifted 7.44% upward. Barrick Gold currently has a Zacks Rank of #2 (Buy).
Investors should also note Barrick Gold's current valuation metrics, including its Forward P/E ratio of 16.02. This represents a discount compared to its industry's average Forward P/E of 16.07.
It is also worth noting that GOLD currently has a PEG ratio of 0.49. 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 0.77 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 56, positioning it in the top 23% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Barrick Gold (GOLD) Declines More Than Market: Some Information for Investors
Barrick Gold (GOLD - Free Report) closed the most recent trading day at $18.24, moving -1.46% from the previous trading session. This change lagged the S&P 500's 1.37% loss on the day. On the other hand, the Dow registered a loss of 1.21%, and the technology-centric Nasdaq decreased by 2.3%.
The gold and copper mining company's stock has climbed by 6.99% in the past month, exceeding the Basic Materials sector's loss of 0.16% and the S&P 500's gain of 1.11%.
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, the latest consensus estimate predicts the revenue to be $3.02 billion, indicating a 6.45% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.16 per share and a revenue of $12.9 billion, indicating changes of +38.1% and +13.15%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Barrick Gold. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 past month, the Zacks Consensus EPS estimate has shifted 7.44% upward. Barrick Gold currently has a Zacks Rank of #2 (Buy).
Investors should also note Barrick Gold's current valuation metrics, including its Forward P/E ratio of 16.02. This represents a discount compared to its industry's average Forward P/E of 16.07.
It is also worth noting that GOLD currently has a PEG ratio of 0.49. 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 0.77 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 56, positioning it in the top 23% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.