The market expects Barrick Gold (GOLD) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2020. This widely-known consensus outlook is important in assessing the company’s earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on November 5. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management’s discussion of business conditions on the earnings call, it’s worth handicapping the probability of a positive EPS surprise.
Zacks Consensus Estimate This gold and copper mining company is expected to post quarterly earnings of $0.32 per share in its […]
October 30, 2020 (updated October 30, 2020) Published by StockMan