Barrick Gold (GOLD) Stock Sinks As Market Gains: What You Should Know

Barrick Gold (GOLD) closed at $20.74 in the latest trading session, marking a -0.77% move from the prior day. This change lagged the S&P 500's daily gain of 0.2%.

Prior to today's trading, shares of the gold and copper mining company had lost 0.29% over the past month. This has lagged the Basic Materials sector's gain of 2.47% and the S&P 500's gain of 3.28% in that time.

Wall Street will be looking for positivity from GOLD as it approaches its next earnings report date. This is expected to be August 9, 2021. In that report, analysts expect GOLD to post earnings of $0.26 per share. This would mark year-over-year growth of 13.04%. Meanwhile, our latest consensus estimate is calling for revenue of $2.97 billion, down 2.87% from the prior-year quarter.

GOLD's full-year Zacks Consensus Estimates are calling for earnings of $1.23 per share and revenue of $12.46 billion. These results would represent year-over-year changes of +6.96% and -1.05%, respectively.

Investors might also notice recent changes to analyst estimates for GOLD. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.06% higher. GOLD is currently sporting a Zacks Rank of #3 (Hold).

Digging into valuation, GOLD currently has a Forward P/E ratio of 17.03. Its industry sports an average Forward P/E of 15.04, so we one might conclude that GOLD is trading at a premium comparatively.

Meanwhile, GOLD's PEG ratio is currently 8.52. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Mining - Gold industry currently had an average PEG ratio of 1.96 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 201, which puts it in the bottom 21% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

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