Barrick gold (GOLD – Free Report) closed the most recent trading day at $21.01, up +1.5% from the previous trading session. This change exceeded the S&P 500’s 0.4% gain on the day. Elsewhere, the Dow Jones rose 0.62%, while the tech-heavy Nasdaq rose 0.6%.
Shares of the gold and copper mining company have added 3.76% over the past month, outperforming the Basic Materials sector’s gain of 3.19% and the S&P 500’s gain of 1.71%.
Investors will be eagerly awaiting Barrick Gold’s performance in its upcoming earnings release. In that report, analysts expect Barrick Gold to post earnings of $0.36 per share. This would represent a year-on-year growth of 50%.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.27 per share and revenue of $13.24 billion, which would represent changes of +51.19% and +16.13%, respectively, from the prior year .
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Barrick Gold. These recent revisions generally reflect the evolving nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, externally audited track record of success, with its #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.59% higher. Currently, Barrick Gold has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Barrick Gold currently has a price-to-earnings ratio of 16.32. This indicates no notable deviation from the industry’s average forward price-to-earnings ratio of 16.32.
We should also mention that GOLD has a PEG ratio of 0.5. This popular metric is similar to the widely known price-to-earnings ratio, except that the PEG ratio also takes into account the company’s expected earnings growth. When the market closed yesterday, the mining gold sector had an average PEG ratio of 0.68.
The Mining Gold Industry is part of the Basic Materials Sector. The current Zacks Industry Rank of 62 puts this sector in the top 25% of all industries, with a total of over 250.
The Zacks Industry Rank assesses the strength of our specific industry groups by calculating the average Zacks Rank of the individual stocks included in the groups. 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 stick to Zacks.com to follow these and more stock price metrics in the coming trading sessions.