Barrick Gold (GOLD) Stock Sinks As Market Gains: What You Should Know

Barrick Gold (GOLD) closed the most recent trading day at $19.73, moving -0.45% from the previous trading session. This change lagged the S&P 500's daily gain of 1.45%. Meanwhile, the Dow gained 0.86%, and the Nasdaq, a tech-heavy index, added 0.44%.

Heading into today, shares of the gold and copper mining company had gained 5.09% over the past month, outpacing the Basic Materials sector's gain of 0.61% and the S&P 500's loss of 3.26% in that time.

Barrick Gold will be looking to display strength as it nears its next earnings release, which is expected to be February 16, 2022. In that report, analysts expect Barrick Gold to post earnings of $0.30 per share. This would mark a year-over-year decline of 14.29%. Meanwhile, our latest consensus estimate is calling for revenue of $3.42 billion, up 4.43% from the prior-year quarter.

Any recent changes to analyst estimates for Barrick Gold should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 0.77% lower. Barrick Gold is currently sporting a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Barrick Gold has a Forward P/E ratio of 17.6 right now. This valuation marks a premium compared to its industry's average Forward P/E of 14.27.

It is also worth noting that GOLD currently has a PEG ratio of 8.8. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Mining - Gold industry currently had an average PEG ratio of 2.63 as of yesterday's close.

The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 37% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow GOLD in the coming trading sessions, be sure to utilize Zacks.com.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.