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

The most recent trading day saw Barrick Gold (GOLD) finish at $15.78, which was a slight decrease of -0.06% from the previous trading session. In comparison, the S&P 500 gained 0.14% during the day while the Dow rose by 0.22% and the tech-focused Nasdaq increased by 0.09%.

Before today's trading, the gold and copper mining company's shares experienced a decline of 5.22% within the last month. This is lower than the Basic Materials category's decrease of 2.96% and the S&P 500's loss of 1.27% during the same time period.

Investors on Wall Street will be seeking encouraging news when it comes to the upcoming earnings report from Barrick Gold. The experts' predictions indicate that Barrick Gold is expected to gain $0.27 per share during that time, displaying a growth rate of 107.69% compared to the previous year. The latest evaluation that experts have provided indicates that the earnings from this quarter are likely to reach $3 billion, thereby exhibiting an 18.67% increase from the revenue generated during the same period in the previous year.

Throughout the entire year, our Zacks Consensus Estimates anticipate earnings of $0.89 for each share and a total revenue of $11.88 billion. This would indicate a growth of +18.67% and +7.85%, respectively, compared to the previous year.

Changes in analyst predictions for Barrick Gold may also grab the attention of investors. Such changes often mirror current fleeting business patterns that can vary frequently. Keeping this in mind, investors might perceive positive revisions in predictions as a positive indication of the company's future profitability.

According to our findings, the changes in estimates have a strong connection to the prices of stocks in the short-term. To take advantage of this, investors can make use of the Zacks Rank. This system takes into account the changes in estimates and gives a straightforward way to rate and take action.

The Zacks Rank system measures stocks on a scale of #1 (Strong Buy) to #5 (Strong Sell) and has been audited externally, with an outstanding history of superior performance. Stocks ranked as #1 have seen an average annual return of +25% since 1988. Our recent projections suggest a rise of 3.85% in the consensus EPS within the last 30 days. Currently, Barrick Gold is positioned as a Zacks Rank #3 (Hold).

It's important for investors to pay attention to the current value measurements of Barrick Gold, such as its Forward P/E ratio which is currently at 17.83. This means that it's cheaper compared to the average forward P/E of the industry which is at 19.47.

It's important to mention that GOLD has a PEG ratio of 8.91. This ratio is like the commonly-used P/E ratio, but it also considers the predicted earnings growth rate of the company. The average PEG ratio for GOLD's industry was 3.33 at the end of yesterday.

In the Basic Materials sector, there exists the domain of Mining - Gold. Presently, this domain holds the rank of 167 in the Zacks Industry Rank, which lands it among the lowest 34% of over 250 other industries.

The Zacks Industry Rank assesses how strong our industry groups are by calculating the average Zacks Rank of the individual stocks present within those groups. Our studies indicate that industries that are rated in the top 50% perform twice as better than those positioned in the bottom half.

Ensure that you make use of Zacks.com to keep track of all the metrics that can influence the stock market in the upcoming trading days.

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The Free Stock Analysis Report of Barrick Gold Corporation (GOLD) is now available.

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