Barrick Gold (GOLD) closed at $22.37 in the latest trading session, marking a -1.58% move from the prior day. This change was narrower than the S&P 500’s 2.82% loss on the day. Elsewhere, the Dow lost 2.38%, while the tech-heavy Nasdaq lost 0.24%.
Coming into today, shares of the gold and copper mining company had lost 6.19% in the past month. In that same time, the Basic Materials sector lost 9.49%, while the S&P 500 lost 5.33%.
Wall Street will be looking for positivity from Barrick Gold as it approaches its next earnings report date. This is expected to be May 4, 2022. The company is expected to report EPS of $0.23, down 20.69% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.97 billion, up 0.46% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.18 per share and revenue of $12.11 billion. These totals would mark changes of +1.72% and +1.08%, respectively, from last year.
Any recent changes to analyst estimates for Barrick Gold should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. Over the past month, the Zacks Consensus EPS estimate has moved 2.28% higher. Barrick Gold currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Barrick Gold has a Forward P/E ratio of 19.3 right now. This valuation marks a discount compared to its industry’s average Forward P/E of 21.46.
Also, we should mention that GOLD has a PEG ratio of 9.65. 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. GOLD’s industry had an average PEG ratio of 9.18 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 186, which puts it in the bottom 27% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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