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Barrick Gold (GOLD) Stock Sinks As Market Gains: Here's Why
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Barrick Gold (GOLD - Free Report) ended the recent trading session at $20.18, demonstrating a -0.59% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 0.01%. Elsewhere, the Dow gained 0.09%, while the tech-heavy Nasdaq added 0.08%.
The gold and copper mining company's shares have seen an increase of 3.57% over the last month, not keeping up with the Basic Materials sector's gain of 5% and outstripping the S&P 500's gain of 1.21%.
The investment community will be closely monitoring the performance of Barrick Gold in its forthcoming earnings report. On that day, Barrick Gold is projected to report earnings of $0.35 per share, which would represent year-over-year growth of 45.83%.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.26 per share and a revenue of $13.24 billion, indicating changes of +50% and +16.13%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Barrick Gold. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 4.24% rise in the Zacks Consensus EPS estimate. As of now, Barrick Gold holds a Zacks Rank of #2 (Buy).
With respect to valuation, Barrick Gold is currently being traded at a Forward P/E ratio of 16.06. This denotes a premium relative to the industry's average Forward P/E of 15.82.
One should further note that GOLD currently holds a PEG ratio of 0.49. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Mining - Gold stocks are, on average, holding a PEG ratio of 0.67 based on yesterday's closing prices.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 101, putting it in the top 41% 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.
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) Stock Sinks As Market Gains: Here's Why
Barrick Gold (GOLD - Free Report) ended the recent trading session at $20.18, demonstrating a -0.59% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 0.01%. Elsewhere, the Dow gained 0.09%, while the tech-heavy Nasdaq added 0.08%.
The gold and copper mining company's shares have seen an increase of 3.57% over the last month, not keeping up with the Basic Materials sector's gain of 5% and outstripping the S&P 500's gain of 1.21%.
The investment community will be closely monitoring the performance of Barrick Gold in its forthcoming earnings report. On that day, Barrick Gold is projected to report earnings of $0.35 per share, which would represent year-over-year growth of 45.83%.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.26 per share and a revenue of $13.24 billion, indicating changes of +50% and +16.13%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Barrick Gold. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 4.24% rise in the Zacks Consensus EPS estimate. As of now, Barrick Gold holds a Zacks Rank of #2 (Buy).
With respect to valuation, Barrick Gold is currently being traded at a Forward P/E ratio of 16.06. This denotes a premium relative to the industry's average Forward P/E of 15.82.
One should further note that GOLD currently holds a PEG ratio of 0.49. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Mining - Gold stocks are, on average, holding a PEG ratio of 0.67 based on yesterday's closing prices.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 101, putting it in the top 41% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.