In the latest trading session, Barrick Gold (GOLD – Free Report) closed at $15.05, marking a +0.27% move from the previous day. This change lagged the S&P 500’s 1.19% gain on the day. Elsewhere, the Dow gained 1.34%, while the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the gold and copper mining company had gained 3.66% over the past month, outpacing the Basic Materials sector’s gain of 2.89% and the S&P 500’s loss of 0.84% in that time.
Barrick Gold will be looking to display strength as it nears its next earnings release, which is expected to be November 3, 2022. In that report, analysts expect Barrick Gold to post earnings of $0.13 per share. This would mark a year-over-year decline of 45.83%. Meanwhile, our latest consensus estimate is calling for revenue of $3.09 billion, up 9.27% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.84 per share and revenue of $11.63 billion, which would represent changes of -27.59% and -2.99%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Barrick Gold. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 18.69% lower. Barrick Gold is currently a Zacks Rank #5 (Strong Sell).
Looking at its valuation, Barrick Gold is holding a Forward P/E ratio of 17.78. This represents a premium compared to its industry’s average Forward P/E of 17.35.
Meanwhile, GOLD’s PEG ratio is currently 8.89. 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. Mining – Gold stocks are, on average, holding a PEG ratio of 3.16 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 198, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the 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.
Read More:Barrick Gold (GOLD) Gains But Lags Market: What You Should Know – October 24, 2022
2022-10-24 21:25:41
