Why Barrick Gold (GOLD) Dipped More Than Broader Market Today
Barrick Gold (GOLD) closed the latest trading day at $15.23, indicating a -1.81% change from the previous session's end. The stock trailed the S&P 500, which registered a daily loss of 0.09%. At the same time, the Dow added 0.04%, and the tech-heavy Nasdaq lost 0.1%.Shares of the gold and copper mining company witnessed a loss of 13.3% over the previous month, trailing the performance of the Basic Materials sector with its loss of 7.73% and the S&P 500's loss of 0.29%.Market participants will be closely following the financial results of Barrick Gold in its upcoming release. The company is predicted to post an EPS of $0.46, indicating a 70.37% growth compared to the equivalent quarter last year.For the full year, the Zacks Consensus Estimates project earnings of $1.28 per share and a revenue of $13.48 billion, demonstrating changes of +52.38% and +18.31%, respectively, from the preceding year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Barrick Gold. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.22% lower. At present, Barrick Gold boasts a Zacks Rank of #3 (Hold).Investors should also note Barrick Gold's current valuation metrics, including its Forward P/E ratio of 12.16. This expresses no noticeable deviation compared to the average Forward P/E of 12.16 of its industry.One should further note that GOLD currently holds a PEG ratio of 0.41. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. GOLD's industry had an average PEG ratio of 0.51 as of yesterday's close.The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 79, this industry ranks in the top 32% of all industries, numbering over 250.The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.Zacks Naming Top 10 Stocks for 2025Want to be tipped off early to our 10 top picks for the entirety of 2025?History suggests their performance could be sensational.From 2012 (when our Director of Research Sheraz Mian assumed responsibility for the portfolio) through November, 2024, the Zacks Top 10 Stocks gained +2,112.6%, more than QUADRUPLING the S&P 500’s +475.6%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2025. Don’t miss your chance to get in on these stocks when they’re released on January 2.Be First to New Top 10 Stocks >>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
