Barrick Gold (GOLD) shares move -0.83%: What you need to know
Barrick Gold (GOLD) closed the last day of trading at $19.06, down -0.83% from the previous trading session. That change was narrower than the S&P 500’s 2.44% daily loss. Elsewhere, the Dow lost 1.45%, while the tech-heavy Nasdaq lost 0.41%.
Going into today, shares of the gold and copper mining company had gained 3.5% over the past month, outpacing the materials sector’s 2.15% loss and the loss of 3.72% of the S&P 500 during this period.
Wall Street will be looking for positivity from Barrick Gold as its next earnings report date nears. That is expected to be February 16, 2022. In this report, analysts expect Barrick Gold to post earnings of $0.30 per share. This would mark a year-over-year decline of 14.29%. Our most recent consensus estimate calls for quarterly revenue of $3.42 billion, up 4.43% from the prior year period.
Investors might also notice recent changes in analyst estimates for Barrick Gold. These revisions generally reflect the latest short-term trading trends, which may change frequently. Thus, positive revisions to estimates reflect analysts’ optimism about the company’s business and profitability.
Based on our research, we believe that these estimate revisions are directly related to the team’s close stock movements. To benefit from this, we have developed the Zacks Rank, a proprietary model that takes into account these estimation changes and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive track record of outperformance verified by external audits, with #1 stocks generating an average annual return of +25% since 1988 Over the past month, the Zacks Consensus EPS estimate fell 0.77%. Barrick Gold currently has a Zacks rank of #3 (Hold).
Investors should also note Barrick Gold’s current valuation metrics, including its Forward P/E ratio of 17.07. Its industry sports an average Forward P/E of 14.18, so we could conclude that Barrick Gold is trading at a premium comparatively.
Investors should also note that GOLD has a PEG ratio of 8.53 at this time. This popular measure is similar to the widely known P/E ratio, except that the PEG ratio also takes into account the company’s expected earnings growth rate. The GOLD industry had an average PEG ratio of 2.59 at yesterday’s close.
The Mining – Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 156, which places it in the bottom 39% of all 250+ industries.
The Zacks Industry Ranking assesses the strength of our industry groups by measuring the average Zacks Ranking of individual stocks within the groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
Be sure to track all of these stock movement metrics, and more, at Zacks.com.
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Barrick Gold Corporation (GOLD): Free Stock Analysis Report