During the last trading session, Barrick Gold (GOLD – Free Report) closed at $20.21, up +1.15% from the previous day. The stock outpaced the S&P 500’s daily loss of 0.76%. Elsewhere, the Dow Jones fell 0.75%, while the tech-heavy Nasdaq fell 1.01%.
Shares of the gold and copper mining company have fallen 2.63% over the past month, outpacing the Basic Materials sector’s gain of 2.96% and the S&P 500’s gain of 4.31%.
Barrick Gold’s upcoming earnings release will be of great interest to investors. The company’s earnings report is expected on November 7, 2024. The company is expected to report earnings per share of $0.35, which represents an increase of 45.83% compared to the same quarter of the previous year.
In terms of the full fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.27 per share and revenue of $13.3 billion, indicating changes of +51.19% and +16.73%, respectively, from the previous 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. Positive estimate revisions therefore reflect analyst confidence in the company’s business performance and earnings potential.
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 a remarkable outside-audited track record of outperforming, with #1 stocks returning an average annual gain of +25% since 1988 yielded. Over 30 days, the Zacks Consensus EPS estimate has witnessed an increase of 5.97%. Barrick Gold currently has a Zacks Rank of #2 (Buy).
Looking at the valuation, Barrick Gold currently has a price-to-earnings ratio of 15.68. This indicates a premium compared to the industry’s forward price-to-earnings ratio of 14.44.
Investors should also note that GOLD currently has a PEG ratio of 0.48. The PEG ratio is similar to the commonly used price-to-earnings ratio, but this metric also takes into account the company’s expected earnings growth. The mining gold sector had an average PEG ratio of 0.81 at the close of trading yesterday.
The Mining Gold Industry is part of the Basic Materials Sector. The current Zacks Industry Rank of 44 puts this sector in the top 18% of all industries, with a total of over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% of sectors perform better than the bottom half by a factor of 2 to 1.
Keep in mind that you can rely on Zacks.com to see all of these metrics impacting the stock, and more, in subsequent trading sessions.