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Barrick Gold (GOLD) Gains As Market Dips: What You Should Know
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Barrick Gold (GOLD - Free Report) closed at $26.74 in the latest trading session, marking a +0.98% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.05%. Meanwhile, the Dow gained 0.17%, and the Nasdaq, a tech-heavy index, lost 0.01%.
Prior to today's trading, shares of the gold and copper mining company had gained 38.57% over the past month. This has outpaced the Basic Materials sector's gain of 27.2% and the S&P 500's gain of 21.82% in that time.
GOLD will be looking to display strength as it nears its next earnings release, which is expected to be May 6, 2020. The company is expected to report EPS of $0.16, up 45.45% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.74 billion, up 31.15% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $0.82 per share and revenue of $11.36 billion. These results would represent year-over-year changes of +60.78% and +16.89%, respectively.
It is also important to note the recent changes to analyst estimates for 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 12.6% higher. GOLD is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, GOLD is holding a Forward P/E ratio of 32.34. For comparison, its industry has an average Forward P/E of 17.9, which means GOLD is trading at a premium to the group.
Meanwhile, GOLD's PEG ratio is currently 16.17. 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 2.9 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 9, putting it in the top 4% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Barrick Gold (GOLD) Gains As Market Dips: What You Should Know
Barrick Gold (GOLD - Free Report) closed at $26.74 in the latest trading session, marking a +0.98% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.05%. Meanwhile, the Dow gained 0.17%, and the Nasdaq, a tech-heavy index, lost 0.01%.
Prior to today's trading, shares of the gold and copper mining company had gained 38.57% over the past month. This has outpaced the Basic Materials sector's gain of 27.2% and the S&P 500's gain of 21.82% in that time.
GOLD will be looking to display strength as it nears its next earnings release, which is expected to be May 6, 2020. The company is expected to report EPS of $0.16, up 45.45% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.74 billion, up 31.15% from the year-ago period.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $0.82 per share and revenue of $11.36 billion. These results would represent year-over-year changes of +60.78% and +16.89%, respectively.
It is also important to note the recent changes to analyst estimates for 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 12.6% higher. GOLD is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, GOLD is holding a Forward P/E ratio of 32.34. For comparison, its industry has an average Forward P/E of 17.9, which means GOLD is trading at a premium to the group.
Meanwhile, GOLD's PEG ratio is currently 16.17. 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 2.9 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 9, putting it in the top 4% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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 follow all of these stock-moving metrics, and many more, on Zacks.com.