Barrick Gold (GOLD) closed the most recent trading day at $17.95, moving -0.77% from the previous trading session. This move lagged the S&P 500's daily gain of 0.39%. Elsewhere, the Dow gained 0.17%, while the tech-heavy Nasdaq added 0.34%.
Heading into today, shares of the gold and copper mining company had gained 2.15% over the past month, outpacing the Basic Materials sector's gain of 0.75% and lagging the S&P 500's gain of 4.73% in that time.
Wall Street will be looking for positivity from GOLD as it approaches its next earnings report date. This is expected to be February 12, 2020. In that report, analysts expect GOLD to post earnings of $0.15 per share. This would mark year-over-year growth of 150%. Meanwhile, our latest consensus estimate is calling for revenue of $2.78 billion, up 46.04% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for GOLD. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 0.91% lower within the past month. GOLD is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, GOLD is currently trading at a Forward P/E ratio of 26.7. This represents a premium compared to its industry's average Forward P/E of 14.76.
Meanwhile, GOLD's PEG ratio is currently 13.35. 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. The Mining - Gold industry currently had an average PEG ratio of 4.33 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 168, putting it in the bottom 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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