Barrick Gold (GOLD) closed at $18.56 in the latest trading session, marking a -0.8% move from the prior day. This change lagged the S&P 500's daily gain of 2.44%. Elsewhere, the Dow gained 1.65%, while the tech-heavy Nasdaq added 0.28%.
Heading into today, shares of the gold and copper mining company had lost 0.58% over the past month, outpacing the Basic Materials sector's loss of 3.8% and the S&P 500's loss of 9.65% in that time.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release, which is expected to be February 16, 2022. On that day, Barrick Gold is projected to report earnings of $0.30 per share, which would represent a year-over-year decline of 14.29%. Our most recent consensus estimate is calling for quarterly revenue of $3.32 billion, up 1.17% from the year-ago period.
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.
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 0.77% lower. Barrick Gold is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Barrick Gold has a Forward P/E ratio of 16.61 right now. This valuation marks a premium compared to its industry's average Forward P/E of 12.71.
It is also worth noting that GOLD currently has a PEG ratio of 8.31. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. GOLD's industry had an average PEG ratio of 2.5 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 94, putting it in the top 37% 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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