In the latest trading session, Barrick Gold (GOLD – Free Report) closed at $14.79, marking a +1.23% move from the previous day. This move outpaced the S&P 500’s daily gain of 1.14%. Elsewhere, the Dow gained 1.12%, while the tech-heavy Nasdaq added 0.05%.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release, which is expected to be November 3, 2022. The company is expected to report EPS of $0.13, down 45.83% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.09 billion, up 9.27% from the year-ago period.
GOLD’s full-year Zacks Consensus Estimates are calling for earnings of $0.90 per share and revenue of $11.63 billion. These results would represent year-over-year changes of -22.41% and -2.99%, respectively.
Any recent changes to analyst estimates for Barrick Gold should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate has moved 13% lower. Barrick Gold is currently a Zacks Rank #5 (Strong Sell).
Digging into valuation, Barrick Gold currently has a Forward P/E ratio of 16.17. This represents a discount compared to its industry’s average Forward P/E of 16.41.
Meanwhile, GOLD’s PEG ratio is currently 8.09. 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 was holding an average PEG ratio of 3.07 at yesterday’s closing price.
The Mining – Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 195, putting it in the bottom 23% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
Read More:Barrick Gold (GOLD) Outpaces Stock Market Gains: What You Should Know – October 18, 2022
2022-10-18 21:06:54