Barrick Gold (GOLD) Increases Yet Falls Behind Market: What Investors Need to Know
The most recent trading session ended with Barrick Gold (GOLD) standing at $15.84, reflecting a +1.67% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 1.83%. Elsewhere, the Dow saw an upswing of 1.65%, while the tech-heavy Nasdaq appreciated by 2.45%.Heading into today, shares of the gold and copper mining company had lost 4.06% over the past month, outpacing the Basic Materials sector's loss of 6.01% and lagging the S&P 500's loss of 3.31% in that time.The investment community will be closely monitoring the performance of Barrick Gold in its forthcoming earnings report. The company is predicted to post an EPS of $0.46, indicating a 70.37% growth compared to the equivalent quarter last year.It's also important for investors to be aware of any recent modifications to analyst estimates for Barrick Gold. These revisions help to show the ever-changing nature of near-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 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.57% lower. Barrick Gold is currently a Zacks Rank #3 (Hold).In terms of valuation, Barrick Gold is currently trading at a Forward P/E ratio of 8.9. This represents a discount compared to its industry's average Forward P/E of 9.88.Investors should also note that GOLD has a PEG ratio of 0.28 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Mining - Gold industry stood at 0.5 at the close of the market yesterday.The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 86, positioning it in the top 35% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks 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.Free Today: Profiting from The Future’s Brightest Energy SourceThe demand for electricity is growing exponentially. At the same time, we’re working to reduce our dependence on fossil fuels like oil and natural gas. Nuclear energy is an ideal replacement.Leaders from the US and 21 other countries recently committed to TRIPLING the world’s nuclear energy capacities. This aggressive transition could mean tremendous profits for nuclear-related stocks – and investors who get in on the action early enough.Our urgent report, Atomic Opportunity: Nuclear Energy's Comeback, explores the key players and technologies driving this opportunity, including 3 standout stocks poised to benefit the most.Download Atomic Opportunity: Nuclear Energy's Comeback free today.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
