Barrick Gold (GOLD) closed the most recent trading day at $15.77, moving -1.31% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.61%. Elsewhere, the Dow saw an upswing of 0.3%, while the tech-heavy Nasdaq appreciated by 1.28%.
Prior to today's trading, shares of the gold and copper mining company had gained 1.72% over the past month. This has lagged the Basic Materials sector's gain of 2.33% and the S&P 500's gain of 2.08% in that time.
The investment community will be paying close attention to the earnings performance of Barrick Gold in its upcoming release. The company is slated to reveal its earnings on February 12, 2025. The company is expected to report EPS of $0.46, up 70.37% from the prior-year quarter.
Investors should also pay attention to any latest changes in analyst estimates for Barrick Gold. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 7.38% decrease. Barrick Gold is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Barrick Gold is at present trading with a Forward P/E ratio of 9.8. This denotes a discount relative to the industry's average Forward P/E of 9.98.
Investors should also note that GOLD has a PEG ratio of 0.31 right now. 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 was holding an average PEG ratio of 0.59 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 80, positioning it in the top 32% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
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