Barrick Gold (GOLD) Stock Slides as Market Rises: Facts to Know Before You Trade
Barrick Gold (GOLD) closed at $19.05 in the latest trading session, marking a -1.4% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.41%. On the other hand, the Dow registered a gain of 0.69%, and the technology-centric Nasdaq increased by 0.8%.Shares of the gold and copper mining company have depreciated by 2.67% over the course of the past month, outperforming the Basic Materials sector's loss of 3.44% and lagging the S&P 500's loss of 0.97%.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. The company is predicted to post an EPS of $0.33, indicating a 37.5% growth compared to the equivalent quarter last year.For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.29 per share and a revenue of $13.24 billion, signifying shifts of +53.57% and +16.17%, respectively, from the last 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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.15% higher. Barrick Gold is currently sporting a Zacks Rank of #2 (Buy).From a valuation perspective, Barrick Gold is currently exchanging hands at a Forward P/E ratio of 14.96. Its industry sports an average Forward P/E of 14.96, so one might conclude that Barrick Gold is trading at no noticeable deviation comparatively.We can additionally observe that GOLD currently boasts a PEG ratio of 0.46. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Mining - Gold industry had an average PEG ratio of 0.76.The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 11, finds itself in the top 5% echelons 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.Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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
