Barrick Gold (GOLD) Stock Crashes as Market Rises: What You Need to Know
Barrick Gold (GOLD) closed at $20.74 in the last trading session, marking a -0.77% move from the previous day. This change lagged the S&P 500 daily gain of 0.2%.
Prior to today’s trading, shares of the gold and copper mining company were down 0.29% in the past month. This lagged the Basic Materials sector’s gain of 2.47% and the S&P 500’s gain of 3.28% during this period.
Wall Street will be looking for positivity in GOLD as its next earnings release date approaches. That should be August 9, 2021. In this report, analysts expect GOLD to post earnings of $0.26 per share. This would mark a year-over-year growth of 13.04%. Meanwhile, our latest consensus estimate calls for revenue of $2.97 billion, down 2.87% from the prior year quarter.
Zacks consensus estimates for the full year for GOLD call for earnings of $1.23 per share and revenue of $12.46 billion. These results would represent year-over-year variations of +6.96% and -1.05%, respectively.
Investors might also notice recent changes in analyst estimates for GOLD. These revisions help show the ever-changing nature of short-term trading trends. Therefore, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Research indicates that these revisions to estimates are directly correlated to near-term stock price dynamics. Investors can take advantage of this by using the Zacks ranking. This model accounts for these estimation changes and provides a simple and actionable scoring system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven track record of outperformance, with #1 stocks returning an average of +25% per year since 1988. In the past 30 days, our consensus EPS projection has increased by 1.06%. GOLD currently sports a Zacks rank of #3 (Hold).
Digging into the valuation, GOLD currently has a Forward P/E ratio of 17.03. His industry sports an average Forward P/E of 15.04, so we could conclude that GOLD is trading at a premium comparatively.
Meanwhile, GOLD’s PEG ratio is currently 8.52. 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 mining-gold industry currently had an average PEG ratio of 1.96 at yesterday’s close.
The Mining – Gold industry is part of the Basic Materials sector. This industry currently has a Zacks industry ranking of 201, which places it in the bottom 21% of all 250+ industries.
The Zacks Industry Rankings are ranked from best to worst in terms of the average Zacks Ranking of individual companies in each of these industries. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and more, at Zacks.com.
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