Barrick Gold (GOLD) Stock Crashes as the Market Rises: What You Need to Know
BArrick Gold (GOLD) closed the last trading day at $19.73, down -0.45% from the previous trading session. That change lagged the S&P 500’s 1.45% daily gain. Meanwhile, the Dow Jones gained 0.86% and the Nasdaq, a technology-heavy index, added 0.44%.
Going into today, shares of the gold and copper mining company had gained 5.09% over the past month, outpacing the basic materials sector’s gain of 0.61% and the loss of 3.26% of the S&P 500 during this period.
Barrick Gold will look to show strength ahead of its next earnings release, which is expected on February 16, 2022. In this report, analysts expect Barrick Gold to post a profit of $0.30 per share. This would mark a year-over-year decline of 14.29%. Meanwhile, our latest consensus estimate calls for revenue of $3.42 billion, up 4.43% from the prior year quarter.
Any recent changes in analyst estimates for Barrick Gold should also be noted by investors. These revisions generally reflect the latest short-term trading trends, which may change frequently. With this in mind, we can view positive estimate revisions as a sign of optimism about the company’s business prospects.
Based on our research, we believe that these estimate revisions are directly related to the team’s close stock movements. 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.
The Zacks ranking system ranges from #1 (strong buy) to #5 (strong sell). It has a remarkable track record of third-party audited success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past 30 days, our consensus EPS projection is down 0.77%. Barrick Gold currently sports a Zacks rank of #3 (Hold).
Valuation is also important, so investors should note that Barrick Gold has a Forward P/E ratio of 17.6 at this time. This valuation marks a premium compared to the average Forward P/E of its sector of 14.27.
It should also be noted that GOLD currently has a PEG ratio of 8.8. 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 2.63 at yesterday’s close.
The Mining – Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 161, which places it in the bottom 37% 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.
To follow GOLD in future trading sessions, be sure to use Zacks.com.
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Barrick Gold Corporation (GOLD): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.