In the last trading session, Barrick Gold (GOLD) closed at USD 20.79, a move of +1.02% on the previous day. The stock exceeded the S&P 500’s daily profit of 0.75%.
Today, the gold and copper mining company’s shares are down 11.38% over the past month. At the same time, the materials sector lost 5.88% while the S&P 500 gained 3.52%.
Wall Street will be looking for positivity on GOLD as it nears its next earnings reporting date. On that day, GOLD is expected to post earnings of $ 0.26 per share, representing a 13.04% year-over-year growth. Our latest consensus estimate was for revenue of $ 2.92 billion, down 4.4% from the same quarter last year.
For the full year, our Zacks Consensus Estimates project earnings per share of $ 1.21 and revenue of $ 12.37 billion, a year-over-year change of + 5.22% and -1.76%, respectively.
Investors should also be aware of any recent changes in analyst estimates for GOLD. These most recent revisions typically reflect developments in short-term business trends. With this in mind, we can view positive valuation revisions as a sign of optimism about the company’s business outlook.
Our research shows that these changes in estimates correlate directly with short-term stock prices. To take advantage of this, we developed the Zacks Rank, a proprietary model that takes these estimation changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from # 1 (Strong Buy) to # 5 (Strong Sell), has had impressive, externally audited outperformance, with # 1 stocks achieving an average annual return of + 25% since 1988 In the last 30 days, our consensus EPS forecast has increased by 2.66%. GOLD currently holds a Zacks rank of # 3 (Hold).
Taking the valuation into account, GOLD currently has a forward P / E of 17.16. This rating marks a premium over the industry’s average forward P / E of 14.96.
It’s also worth noting that GOLD currently has a PEG ratio of 8.58. This popular metric is similar to the widely known P / E ratio, except that the PEG ratio also takes into account the company’s expected earnings growth rate. Mining – Gold stocks hold a PEG ratio of 2.35 on average, based on yesterday’s closing prices.
The mining – gold industry is part of the basic materials sector. This industry currently has a Zacks industry rank of 223, which puts it in the bottom 13% of all over 250 industries.
Zacks Industry Rank measures the strength of our individual industry groups by measuring the average Zacks rank of each stock within the groups. Our research shows that the top-rated 50% of industries outperform the bottom half by a factor of 2 to 1.
Make sure you use zacks. Com to keep track of all of these stock movement metrics and more in the upcoming trading sessions.
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