Barrick Gold (GOLD) Ascends While Market Falls: Some Facts to Note
Barrick Gold (GOLD) closed at $16.56 in the latest trading session, marking a +1.16% move from the prior day. This move outpaced the S&P 500's daily loss of 0.76%. On the other hand, the Dow registered a loss of 0.28%, and the technology-centric Nasdaq decreased by 1.2%.Shares of the gold and copper mining company have appreciated by 3.35% over the course of the past month, underperforming the Basic Materials sector's gain of 5.86% and outperforming the S&P 500's gain of 2.71%.Investors will be eagerly watching for the performance of Barrick Gold in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 12, 2025. The company is expected to report EPS of $0.45, up 66.67% from the prior-year quarter.Any recent changes to analyst estimates for Barrick Gold should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 10.3% lower. Barrick Gold is currently a Zacks Rank #3 (Hold).Investors should also note Barrick Gold's current valuation metrics, including its Forward P/E ratio of 10.36. This indicates a discount in contrast to its industry's Forward P/E of 10.69.It is also worth noting that GOLD currently has a PEG ratio of 0.36. 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. The Mining - Gold was holding an average PEG ratio of 0.61 at yesterday's closing price.The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 84, positioning it in the top 34% of all 250+ industries.The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Barrick Gold Corporation (GOLD): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
Quelle: Zacks
