Barrick Gold (GOLD) Declines More Than Market: Some Information for Investors
Barrick Gold (GOLD) closed the most recent trading day at $19.28, moving -0.57% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.22%. Meanwhile, the Dow experienced a drop of 0.03%, and the technology-dominated Nasdaq saw a decrease of 0.33%.Shares of the gold and copper mining company have appreciated by 3.25% over the course of the past month, outperforming the Basic Materials sector's loss of 0.38% and the S&P 500's loss of 7.48%.The investment community will be paying close attention to the earnings performance of Barrick Gold in its upcoming release. On that day, Barrick Gold is projected to report earnings of $0.25 per share, which would represent year-over-year growth of 31.58%.For the full year, the Zacks Consensus Estimates are projecting earnings of $1.44 per share and revenue of $13.52 billion, which would represent changes of +14.29% and +4.65%, respectively, from the prior year.Any recent changes to analyst estimates for Barrick Gold should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.14% lower. At present, Barrick Gold boasts a Zacks Rank of #3 (Hold).In terms of valuation, Barrick Gold is presently being traded at a Forward P/E ratio of 13.47. This signifies a discount in comparison to the average Forward P/E of 13.95 for its industry.It's also important to note that GOLD currently trades at a PEG ratio of 1.19. 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 1.01 at yesterday's closing price.The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 154, this industry ranks in the bottom 39% of all industries, numbering over 250.The Zacks Industry Rank is ordered 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.Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
Quelle: Zacks
