Yahoo Finance Barrick Gold (GOLD) Surpasses Market Returns: Some Facts Worth Knowing
Barrick Gold (GOLD) closed at $15.81 in the latest trading session, marking a +0.83% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 0.32%. On the other hand, the Dow registered a gain of 0.68%, and the technology-centric Nasdaq increased by 0.2%.
The the stock of gold and copper mining company has risen by 6.31% in the past month, lagging the Basic Materials sector's gain of 6.63% and overreaching the S&P 500's gain of 5.11%.
The upcoming earnings release of Barrick Gold will be of great interest to investors. The company is expected to report EPS of $0.19, up 35.71% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.93 billion, up 10.94% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.90 per share and a revenue of $12.37 billion, representing changes of +7.14% and +8.51%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Barrick Gold. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 past month, there's been a 1.87% fall in the Zacks Consensus EPS estimate. Currently, Barrick Gold is carrying a Zacks Rank of #3 (Hold).
In the context of valuation, Barrick Gold is at present trading with a Forward P/E ratio of 17.42. For comparison, its industry has an average Forward P/E of 20.2, which means Barrick Gold is trading at a discount to the group.
It's also important to note that GOLD currently trades at a PEG ratio of 1.22. 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. By the end of yesterday's trading, the Mining - Gold industry had an average PEG ratio of 1.77.
The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 94, positioning it in the top 38% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
To follow GOLD in the coming trading sessions, be sure to utilize Zacks.com.
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Barrick Gold Corporation (GOLD) : Free Stock Analysis Report
