During the last trading session, Barrick Gold (GOLD – Free Report) closed at $20.23, up +0.85% from the previous day. The stock’s change was less than the S&P 500’s daily gain of 1.7%. Meanwhile, the Dow Jones gained 1.26%, and the Nasdaq, a tech-heavy index, added 2.51%.
Shares of the gold and copper mining company witnessed a loss of 2.72% over the past month, lagging the Basic Materials sector’s performance of 1.1% and the S&P 500’s gain of 1.27 %.
Market participants will closely monitor Barrick Gold’s financial results in the upcoming release. The company is expected to report earnings per share of $0.32, an increase of 33.33% compared to the same quarter of the previous year. At the same time, our latest consensus estimate is for revenues of $3.13 billion, reflecting an increase of 9.23% from the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.22 per share and revenue of $12.86 billion, indicating changes of +45.24% and +12.83%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Barrick Gold. These revisions generally reflect the latest short-term business trends, which may change frequently. With this in mind, we can view positive estimate revisions as a sign of optimism about the company’s business prospects.
Based on our research, we believe these estimate revisions are directly related to stock movements within the team. To benefit from this, we created the Zacks Rank, an exclusive model that takes these estimated changes into account and provides an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive track record of exceeding expectations, corroborated by third-party audits, with #1 stocks posting an average annual return of +25 % yield. since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.24% higher. Barrick Gold currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Barrick Gold currently trades at a price-to-earnings ratio of 16.5. This valuation represents a premium compared to the industry’s average forward price-to-earnings ratio of 16.15.
We can also note that GOLD currently has a PEG ratio of 0.5. The PEG ratio is similar to the commonly used price-to-earnings ratio, but this parameter also includes the company’s expected earnings growth trajectory. The mining gold sector currently had an average PEG ratio of 0.66 as of yesterday’s close.
The Mining Gold Industry is part of the Basic Materials Sector. This industry currently has a Zacks Industry Rank of 137, putting it in the bottom 46% of all 250+ industries.
The Zacks Industry Rank is listed 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% of sectors perform better than the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and much more, on Zacks.com.