Barrick gold (GOLD – Free Report) closed the last trading day at $15.23, marking a change of -1.81% from the end of the previous session. The stock lagged the S&P 500, which posted a daily loss of 0.09%. At the same time, the Dow Jones rose 0.04% and the tech-heavy Nasdaq lost 0.1%.
Shares of the gold and copper mining company witnessed a loss of 13.3% over the past month, lagging the Basic Materials sector’s performance of 7.73% and the S&P 500’s loss of 0.29 %.
Market participants will closely monitor Barrick Gold’s financial results in the upcoming release. The company is forecast to post earnings per share of $0.46, indicating a growth of 70.37% compared to the corresponding quarter of last year.
For the full year, the Zacks Consensus estimates project earnings of $1.28 per share and revenue of $13.48 billion, showing changes of +52.38% and +18.31%, respectively, from the prior year.
Additionally, it would be beneficial for investors to keep an eye on any recent shifts in analyst projections for Barrick Gold. These revisions generally reflect the latest short-term business trends, which may change frequently. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can take advantage of this by using the Zacks Rank. This model takes these estimate changes into account and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive outside-audited track record of outperformance, with the No. 1-ranked stocks delivering an average annual return since 1988. yield +25%. Over the past 30 days, the Zacks Consensus EPS estimate has moved 1.22% lower. Currently, Barrick Gold has a Zacks Rank of #3 (Hold).
Investors should also consider Barrick Gold’s current valuation metrics, including its forward price-to-earnings ratio of 12.16. This indicates no noticeable deviation compared to the industry’s average Forward P/E of 12.16.
Furthermore, it should be noted that GOLD currently has a PEG ratio of 0.41. Similar to the commonly accepted price-to-earnings ratio, the PEG ratio also explains the company’s expected earnings growth. The GOLD sector had an average PEG ratio of 0.51 at yesterday’s close.
The Mining Gold Industry is part of the Basic Materials Sector. The current Zacks Industry Rank of 79 puts this sector in the top 32% of all industries, with a total of over 250.
The Zacks Industry Rank evaluates the strength of our various industry groups by determining the average Zacks Rank of the individual stocks that comprise 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 utilize Zacks.com to follow all of these stock-impacting metrics and more in the coming trading sessions.