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Barrick Gold (GOLD) Gains But Lags Market: What You Should Know – December 29, 2022

Barrick Gold (GOLD Free Report) closed the most recent trading day at $17.25, moving +0.23% from the previous trading session. This change lagged the S&P 500’s 1.75% gain on the day. At the same time, the Dow added 1.05%, and the tech-heavy Nasdaq gained 7.84%.

Heading into today, shares of the gold and copper mining company had gained 5.45% over the past month, outpacing the Basic Materials sector’s loss of 0.18% and the S&P 500’s loss of 4.4% in that time.

Investors will be hoping for strength from Barrick Gold as it approaches its next earnings release. In that report, analysts expect Barrick Gold to post earnings of $0.18 per share. This would mark a year-over-year decline of 48.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.15 billion, down 4.97% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.80 per share and revenue of $11.14 billion. These totals would mark changes of -31.03% and -7.08%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for Barrick Gold. Recent revisions tend to reflect the latest 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 0.72% higher. Barrick Gold currently has a Zacks Rank of #3 (Hold).

In terms of valuation, Barrick Gold is currently trading at a Forward P/E ratio of 21.55. This represents a discount compared to its industry’s average Forward P/E of 22.34.

It is also worth noting that GOLD currently has a PEG ratio of 10.78. 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. Mining – Gold stocks are, on average, holding a PEG ratio of 5.02 based on yesterday’s closing prices.

The Mining – Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 71, putting it in the top 29% 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

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