Barrick Gold (GOLD) closed the most recent trading day at $17.99, moving -0.33% from the previous trading session. This change lagged the S&P 500’s daily gain of 1.15%.
Prior to today’s trading, shares of the gold and copper mining company had lost 9.16% over the past month. This has lagged the Basic Materials sector’s loss of 7.85% and the S&P 500’s loss of 4.67% in that time.
Wall Street will be looking for positivity from GOLD as it approaches its next earnings report date. On that day, GOLD is projected to report earnings of $0.26 per share, which would represent a year-over-year decline of 36.59%. Meanwhile, our latest consensus estimate is calling for revenue of $3.22 billion, down 9.09% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.24 per share and revenue of $12.4 billion, which would represent changes of +7.83% and -1.57%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for GOLD. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
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, 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 past month, the Zacks Consensus EPS estimate has moved 0.57% lower. GOLD is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, GOLD currently has a Forward P/E ratio of 14.56. Its industry sports an average Forward P/E of 13.56, so we one might conclude that GOLD is trading at a premium comparatively.
We can also see that GOLD currently has a PEG ratio of 7.28. 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. GOLD’s industry had an average PEG ratio of 2.6 as of yesterday’s close.
The Mining – Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
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