Barrick Gold (GOLD) ended the recent trading session at $19.38, demonstrating a -0.15% swing from the preceding day's closing price. This change was narrower than the S&P 500's daily loss of 4.84%. On the other hand, the Dow registered a loss of 3.98%, and the technology-centric Nasdaq decreased by 5.97%.
Shares of the gold and copper mining company have appreciated by 5.15% over the course of the past month, outperforming the Basic Materials sector's gain of 0.78% and the S&P 500's loss of 4.7%.
The upcoming earnings release of Barrick Gold will be of great interest to investors. It is anticipated that the company will report an EPS of $0.28, marking a 47.37% rise compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.39 per share and a revenue of $13.53 billion, indicating changes of +10.32% and +4.71%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Barrick Gold. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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 witnessed a 5.83% decrease. 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 14.01. This signifies a discount in comparison to the average Forward P/E of 14.77 for its industry.
It is also worth noting that GOLD currently has a PEG ratio of 1.23. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Mining - Gold stocks are, on average, holding a PEG ratio of 0.95 based on yesterday's closing prices.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 142, which puts it in the bottom 43% 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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This article originally published on Zacks Investment Research (zacks.com).
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