Barrick Gold (GOLD) Gains As Market Dips: What You Should Know
Barrick Gold (GOLD) ended the recent trading session at $21.19, demonstrating a +1.58% swing from the preceding day's closing price. This change outpaced the S&P 500's 0.05% loss on the day. At the same time, the Dow lost 0.02%, and the tech-heavy Nasdaq gained 0.18%.Coming into today, shares of the gold and copper mining company had gained 3.22% in the past month. In that same time, the Basic Materials sector gained 1.21%, while the S&P 500 gained 2.76%.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 November 7, 2024. On that day, Barrick Gold is projected to report earnings of $0.35 per share, which would represent year-over-year growth of 45.83%.For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.27 per share and a revenue of $13.24 billion, representing changes of +51.19% and +16.17%, respectively, from the prior year.Investors should also take note of any recent adjustments to analyst estimates for Barrick Gold. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.71% upward. As of now, Barrick Gold holds a Zacks Rank of #2 (Buy).Looking at its valuation, Barrick Gold is holding a Forward P/E ratio of 16.41. This indicates a premium in contrast to its industry's Forward P/E of 16.37.It is also worth noting that GOLD currently has a PEG ratio of 0.5. 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. Mining - Gold stocks are, on average, holding a PEG ratio of 0.88 based on yesterday's closing prices.The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 22, which puts it in the top 9% 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.Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.Infrastructure Stock Boom to Sweep AmericaA massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.The only question is “Will you get into the right stocks early when their growth potential is greatest?”Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How To Profit From Trillions On Spending For Infrastructure >>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
