Barrick Gold (GOLD) Outpaces Stock Market Gains: What You Should Know

In the latest trading session, Barrick Gold (GOLD) closed at $16.08, marking a +1.26% move from the previous day. This move outpaced the S&P 500's daily gain of 0.47%. Meanwhile, the Dow gained 0.95%, and the Nasdaq, a tech-heavy index, added 2.3%.

Coming into today, shares of the gold and copper mining company had lost 24.38% in the past month. In that same time, the Basic Materials sector lost 35.56%, while the S&P 500 lost 28.7%.

Investors will be hoping for strength from GOLD as it approaches its next earnings release. On that day, GOLD is projected to report earnings of $0.19 per share, which would represent year-over-year growth of 72.73%. Meanwhile, our latest consensus estimate is calling for revenue of $2.72 billion, up 30.16% from the prior-year quarter.

GOLD's full-year Zacks Consensus Estimates are calling for earnings of $0.73 per share and revenue of $11.07 billion. These results would represent year-over-year changes of +43.14% and +13.88%, respectively.

Investors might also notice recent changes to analyst estimates for GOLD. Recent revisions tend to reflect the latest near-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.

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 5.61% higher within the past month. GOLD is currently sporting a Zacks Rank of #2 (Buy).

Looking at its valuation, GOLD is holding a Forward P/E ratio of 21.75. This valuation marks a premium compared to its industry's average Forward P/E of 10.27.

It is also worth noting that GOLD currently has a PEG ratio of 10.88. 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 industry currently had an average PEG ratio of 2.17 as of yesterday's close.

The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 32, putting it in the top 13% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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