Yahoo Finance Barrick Gold (GOLD) Beats Stock Market Upswing: What Investors Need to Know
The most recent trading session ended with Barrick Gold (GOLD) standing at $16.69, reflecting a +1.64% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a gain of 1.2% for the day. Meanwhile, the Dow gained 0.69%, and the Nasdaq, a tech-heavy index, added 1.59%.
Coming into today, shares of the gold and copper mining company had gained 5.46% in the past month. In that same time, the Basic Materials sector lost 1.66%, while the S&P 500 lost 4.16%.
Analysts and investors alike will be keeping a close eye on the performance of Barrick Gold in its upcoming earnings disclosure. The company's earnings report is set to go public on May 1, 2024. The company is forecasted to report an EPS of $0.16, showcasing a 14.29% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $2.93 billion, indicating a 10.94% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $0.90 per share and a revenue of $12.37 billion, demonstrating changes of +7.14% and +8.51%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Barrick Gold. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.16% higher. As of now, Barrick Gold holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Barrick Gold is currently exchanging hands at a Forward P/E ratio of 18.22. This denotes a discount relative to the industry's average Forward P/E of 21.1.
It is also worth noting that GOLD currently has a PEG ratio of 1.52. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Mining - Gold industry stood at 2.19 at the close of the market yesterday.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 48, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Barrick Gold Corporation (GOLD) : Free Stock Analysis Report
