Investor Optimism Abounds Barrick Gold Corporation (TSE:ABX) But Growth Is Lacking
Oct 25
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Canadian (TSX) Market Analysis & Valuation
UpdatedOct 28, 2024
DataAggregated Company Financials
Companies2355
- 7D-0.9%
- 3M5.9%
- 1Y27.4%
- YTD16.6%
Over the last 7 days, the market has dropped 1.3%, driven by a pullback of 1.3% in the Financials sector. In the last year, the market is actually up 28%. Earnings are forecast to grow by 16% annually.
Market Valuation and Performance
Has the Canadian Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 28 Oct 2024 | CA$3.9t | CA$2.1t | CA$167.7b | 15.3x | 23.3x | 1.8x |
| Wed, 25 Sep 2024 | CA$3.8t | CA$2.1t | CA$167.5b | 15.3x | 22.7x | 1.8x |
| Fri, 23 Aug 2024 | CA$3.7t | CA$2.1t | CA$169.8b | 14.7x | 21.8x | 1.8x |
| Sun, 21 Jul 2024 | CA$3.6t | CA$2.1t | CA$167.7b | 14x | 21.7x | 1.8x |
| Tue, 18 Jun 2024 | CA$3.5t | CA$2.1t | CA$167.4b | 14.1x | 20.8x | 1.7x |
| Thu, 16 May 2024 | CA$3.6t | CA$2.0t | CA$167.9b | 14.2x | 21.5x | 1.8x |
| Sat, 13 Apr 2024 | CA$3.6t | CA$2.1t | CA$174.6b | 14.1x | 20.4x | 1.7x |
| Mon, 11 Mar 2024 | CA$3.5t | CA$2.1t | CA$173.3b | 13.7x | 20.1x | 1.7x |
| Wed, 07 Feb 2024 | CA$3.4t | CA$2.1t | CA$172.8b | 13.1x | 19.5x | 1.6x |
| Fri, 05 Jan 2024 | CA$3.4t | CA$2.1t | CA$173.1b | 13x | 19.5x | 1.6x |
| Sun, 03 Dec 2023 | CA$3.3t | CA$2.1t | CA$173.3b | 12.3x | 18.9x | 1.6x |
| Tue, 31 Oct 2023 | CA$3.1t | CA$2.1t | CA$184.5b | 11.6x | 16.6x | 1.5x |
| Thu, 28 Sep 2023 | CA$3.2t | CA$2.1t | CA$184.3b | 11.4x | 17.2x | 1.5x |
| Sat, 26 Aug 2023 | CA$3.2t | CA$2.1t | CA$184.8b | 11.5x | 17.4x | 1.5x |
| Mon, 24 Jul 2023 | CA$3.3t | CA$2.1t | CA$200.2b | 11.7x | 16.6x | 1.6x |
| Wed, 21 Jun 2023 | CA$3.2t | CA$2.1t | CA$200.3b | 11.1x | 15.9x | 1.5x |
| Fri, 19 May 2023 | CA$3.3t | CA$2.2t | CA$206.4b | 11.2x | 15.9x | 1.5x |
| Sun, 16 Apr 2023 | CA$3.4t | CA$2.1t | CA$217.2b | 10.6x | 15.5x | 1.6x |
| Tue, 14 Mar 2023 | CA$3.2t | CA$2.1t | CA$220.3b | 10.6x | 14.6x | 1.5x |
| Thu, 09 Feb 2023 | CA$3.4t | CA$2.1t | CA$246.1b | 11.1x | 13.8x | 1.6x |
| Sat, 07 Jan 2023 | CA$3.3t | CA$2.1t | CA$245.5b | 10.6x | 13.3x | 1.6x |
| Mon, 05 Dec 2022 | CA$3.4t | CA$2.1t | CA$243.2b | 10.9x | 14x | 1.6x |
| Wed, 02 Nov 2022 | CA$3.2t | CA$2.0t | CA$235.4b | 10x | 13.7x | 1.6x |
| Fri, 30 Sep 2022 | CA$3.1t | CA$2.1t | CA$241.0b | 9.5x | 12.9x | 1.5x |
| Sun, 28 Aug 2022 | CA$3.3t | CA$2.0t | CA$236.0b | 10.6x | 14.1x | 1.7x |
| Tue, 26 Jul 2022 | CA$3.2t | CA$2.0t | CA$230.7b | 10.5x | 13.8x | 1.6x |
| Thu, 23 Jun 2022 | CA$3.2t | CA$2.0t | CA$231.5b | 10.8x | 13.7x | 1.6x |
| Sat, 21 May 2022 | CA$3.4t | CA$1.9t | CA$226.9b | 11.5x | 15x | 1.7x |
| Mon, 18 Apr 2022 | CA$3.7t | CA$1.9t | CA$212.0b | 12.6x | 17.3x | 2x |
| Wed, 16 Mar 2022 | CA$3.6t | CA$1.9t | CA$213.9b | 12.7x | 16.6x | 1.9x |
| Fri, 11 Feb 2022 | CA$3.6t | CA$1.8t | CA$195.0b | 13x | 18.4x | 2x |
| Sun, 09 Jan 2022 | CA$3.5t | CA$1.8t | CA$188.9b | 13x | 18.4x | 2x |
| Tue, 07 Dec 2021 | CA$3.4t | CA$1.8t | CA$189.6b | 12.1x | 17.9x | 1.9x |
| Thu, 04 Nov 2021 | CA$3.5t | CA$1.7t | CA$176.9b | 13.4x | 19.6x | 2x |
Price to Earnings Ratio
19.6x
Current Market PE
- Investors are optimistic on the Canadian market, and appear confident in strong long term growth rates.
- The market is trading at a PE ratio of 23.3x which is higher than its 3-year average PE of 17.3x.
Past Earnings Growth
- The earnings for Canadian listed companies have remained mostly flat over the last three years.
- Meanwhile revenues have grown 7.5% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.
Sector Trends
Which sectors have driven the changes within the Canadian Market?
| CA Market | -0.85% | |
| Healthcare | 3.86% | |
| Information Technology | 0% | |
| Financials | 0% | |
| Health Care | 0% | |
| Industrials | 0% | |
| Real Estate | -0.18% | |
| Energy | -0.26% | |
| Materials | -0.55% | |
| Tech | -0.65% | |
| Financials | -0.75% | |
| Consumer Discretionary | -0.88% | |
| Industrials | -1.49% | |
| Consumer Staples | -2.00% | |
| Telecom | -2.02% | |
| Utilities | -2.44% | |
Sector PE
- Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 193x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 37.9% which is higher than its past year's earnings decline of 0.5% per year.
Forecasted Growth
- Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 55% over the next 5 years.
- This is better than its past earnings decline of 14% per year.
- In contrast, the Utilities industry is expected to see its earnings growth to stay flat over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| CLS Celestica | CA$96.43 | 20.8% +CA$1.9b | 210.7% | PE21.4x | Tech | |
| BAM Brookfield Asset Management | CA$72.91 | 3.3% +CA$967.4m | 81.1% | PE49.8x | Financials | |
| CM Canadian Imperial Bank of Commerce | CA$87.32 | 1.2% +CA$954.0m | 79.0% | PB1.5x | Financials | |
| FNV Franco-Nevada | CA$188.50 | 2.7% +CA$945.1m | 8.0% | PS23.2x | Materials | |
| TOU Tourmaline Oil | CA$64.81 | 4.0% +CA$924.6m | -9.6% | PE16.3x | Energy |
