In the latest trading session, Barrick Gold (GOLD) closed at $26.63, marking a -0.67% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.86%. At the same time, the Dow lost 2.3%, and the tech-heavy Nasdaq lost 1.64%.
Heading into today, shares of the gold and copper mining company had lost 3.04% over the past month, lagging the Basic Materials sector's gain of 6.97% and the S&P 500's gain of 7.63% in that time.
GOLD will be looking to display strength as it nears its next earnings release, which is expected to be November 5, 2020. The company is expected to report EPS of $0.32, up 113.33% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.35 billion, up 25.21% from the prior-year quarter.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $1.02 per share and revenue of $12.43 billion. These results would represent year-over-year changes of +100% and +27.88%, respectively.
It is also important to note the recent changes to analyst estimates for GOLD. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 5.64% higher within the past month. GOLD is currently a Zacks Rank #2 (Buy).
Investors should also note GOLD's current valuation metrics, including its Forward P/E ratio of 26.37. This represents a premium compared to its industry's average Forward P/E of 17.47.
Investors should also note that GOLD has a PEG ratio of 13.19 right now. 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 2.15 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 123, which puts it in the top 49% 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
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