Yahoo Finance Barrick Gold (GOLD) Gains As Market Dips: What You Should Know
In the latest trading session, Barrick Gold (GOLD) closed at $18.35, marking a +0.16% move from the previous day. This change outpaced the S&P 500's 0.61% loss on the day. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, lost 0.67%.
Heading into today, shares of the gold and copper mining company had lost 3.78% over the past month, lagging the Basic Materials sector's gain of 10.15% and the S&P 500's gain of 8.32% in that time.
Wall Street will be looking for positivity from Barrick Gold as it approaches its next earnings report date. This is expected to be February 15, 2023. On that day, Barrick Gold is projected to report earnings of $0.13 per share, which would represent a year-over-year decline of 62.86%. Our most recent consensus estimate is calling for quarterly revenue of $3.15 billion, down 4.97% from the year-ago period.
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.
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.
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. The Zacks Consensus EPS estimate has moved 8.7% higher within the past month. Barrick Gold currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Barrick Gold currently has a Forward P/E ratio of 20.13. Its industry sports an average Forward P/E of 20.13, so we one might conclude that Barrick Gold is trading at a no noticeable deviation comparatively.
Meanwhile, GOLD's PEG ratio is currently 10.07. 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. Mining - Gold stocks are, on average, holding a PEG ratio of 3.74 based on yesterday's closing prices.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 65, putting it in the top 26% 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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Barrick Gold Corporation (GOLD) : Free Stock Analysis Report
