In the latest trading session, Barrick Gold (GOLD) closed at $15.07, marking a -0.72% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.84%. At the same time, the Dow lost 0.36%, and the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the gold and copper mining company had lost 7.16% over the past month, lagging the Basic Materials sector's loss of 6.82% and outpacing the S&P 500's loss of 10.24% in that time.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release. In that report, analysts expect Barrick Gold to post earnings of $0.26 per share. This would mark year-over-year growth of 8.33%. Our most recent consensus estimate is calling for quarterly revenue of $3.02 billion, up 6.76% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.03 per share and revenue of $11.86 billion. These totals would mark changes of -11.21% and -1.02%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Barrick Gold. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. The Zacks Consensus EPS estimate has moved 0.24% lower within the past month. Barrick Gold is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Barrick Gold is currently trading at a Forward P/E ratio of 14.81. Its industry sports an average Forward P/E of 17.5, so we one might conclude that Barrick Gold is trading at a discount comparatively.
It is also worth noting that GOLD currently has a PEG ratio of 7.41. 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. The Mining - Gold was holding an average PEG ratio of 3.02 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 34% 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.
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Barrick Gold Corporation (GOLD): Free Stock Analysis Report
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