Barrick Gold (GOLD) Exceeds Market Returns: Some Facts to Consider
In the latest trading session, Barrick Gold (GOLD) closed at $19.66, marking a +1.13% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.38%. Meanwhile, the Dow experienced a drop of 0.03%, and the technology-dominated Nasdaq saw an increase of 0.87%.Shares of the gold and copper mining company witnessed a gain of 9.89% over the previous month, beating the performance of the Basic Materials sector with its gain of 0.05% and the S&P 500's loss of 5.59%.Market participants will be closely following the financial results of Barrick Gold in its upcoming release. The company's upcoming EPS is projected at $0.25, signifying a 31.58% increase compared to the same quarter of the previous year.Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.36 per share and revenue of $13.53 billion, indicating changes of +7.94% and +4.71%, respectively, compared to the previous year.Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Barrick Gold. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, the Zacks Consensus EPS estimate has shifted 7.48% downward. Barrick Gold currently has a Zacks Rank of #3 (Hold).In the context of valuation, Barrick Gold is at present trading with a Forward P/E ratio of 14.28. This denotes a discount relative to the industry's average Forward P/E of 14.59.Meanwhile, GOLD's PEG ratio is currently 1.26. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Mining - Gold industry was having an average PEG ratio of 0.99.The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 134, putting it in the bottom 47% of all 250+ industries.The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand picked 7 your immediate attention. See them 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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
Quelle: Zacks
