Yahoo Finance Barrick Gold (GOLD) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Barrick Gold (GOLD) closed at $19.67, marking a -0.1% move from the previous day. This move lagged the S&P 500's daily gain of 0.25%. Meanwhile, the Dow gained 0.08%, and the Nasdaq, a tech-heavy index, added 7.26%.
Coming into today, shares of the gold and copper mining company had gained 14.15% in the past month. In that same time, the Basic Materials sector gained 10.34%, while the S&P 500 gained 5.73%.
Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release, which is expected to be February 15, 2023. In that report, analysts expect Barrick Gold to post earnings of $0.13 per share. This would mark 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 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 1.37% higher within the past month. 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 23.2 right now. This valuation marks a premium compared to its industry's average Forward P/E of 22.6.
We can also see that GOLD currently has a PEG ratio of 11.6. 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 3.89 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Barrick Gold Corporation (GOLD) : Free Stock Analysis Report
