Barrick Gold (GOLD) closed at $19.42 in the latest trading session, marking a +0.99% move from the prior day. This move outpaced the S&P 500's daily loss of 0.07%. At the same time, the Dow added 0.31%, and the tech-heavy Nasdaq lost 3.22%.
Heading into today, shares of the gold and copper mining company had gained 10.58% over the past month, outpacing the Basic Materials sector's gain of 8.15% and the S&P 500's gain of 4.64% in that time.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release, which is expected to be February 15, 2023. The company is expected to report EPS of $0.12, down 65.71% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.15 billion, down 4.97% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Barrick Gold. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.05% lower within the past month. Barrick Gold is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Barrick Gold is currently trading at a Forward P/E ratio of 23.45. For comparison, its industry has an average Forward P/E of 22.53, which means Barrick Gold is trading at a premium to the group.
Also, we should mention that GOLD has a PEG ratio of 11.73. 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 Mining - Gold industry currently had an average PEG ratio of 3.67 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 143, which puts it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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