Barrick Gold (GOLD) closed the most recent trading day at $19.31, moving -0.21% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.12%. Elsewhere, the Dow saw a downswing of 0.31%, while the tech-heavy Nasdaq depreciated by 2.04%.

Heading into today, shares of the gold and copper mining company had gained 7.08% over the past month, outpacing the Basic Materials sector's gain of 1.19% and the S&P 500's loss of 2.91% in that time.

Analysts and investors alike will be keeping a close eye on the performance of Barrick Gold in its upcoming earnings disclosure. The company is expected to report EPS of $0.25, up 31.58% from the prior-year quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.36 per share and revenue of $13.52 billion, indicating changes of +7.94% and +4.65%, respectively, compared to the previous year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Barrick Gold. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.28% lower. At present, Barrick Gold boasts a Zacks Rank of #3 (Hold).

In terms of valuation, Barrick Gold is presently being traded at a Forward P/E ratio of 14.18. This represents a discount compared to its industry's average Forward P/E of 14.31.

We can additionally observe that GOLD currently boasts a PEG ratio of 1.25. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Mining - Gold industry currently had an average PEG ratio of 0.99 as of yesterday's close.

The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 145, finds itself in the bottom 43% echelons of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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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This article originally published on Zacks Investment Research (zacks.com).

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