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New Gold (NGD) Ascends But Remains Behind Market: Some Facts to Note
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The most recent trading session ended with New Gold (NGD - Free Report) standing at $2.82, reflecting a +0.36% shift from the previouse trading day's closing. The stock lagged the S&P 500's daily gain of 0.61%. On the other hand, the Dow registered a gain of 0.97%, and the technology-centric Nasdaq increased by 0.33%.
Shares of the gold mining company witnessed a loss of 2.77% over the previous month, trailing the performance of the Basic Materials sector with its gain of 6.17% and the S&P 500's gain of 5.36%.
The upcoming earnings release of New Gold will be of great interest to investors. The company's earnings report is expected on October 29, 2024. The company is predicted to post an EPS of $0.04, indicating a 33.33% growth compared to the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.15 per share and a revenue of $969 million, indicating changes of +114.29% and +23.2%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for New Gold. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 6.25% lower within the past month. New Gold is currently sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that New Gold has a Forward P/E ratio of 19.16 right now. For comparison, its industry has an average Forward P/E of 15.75, which means New Gold is trading at a premium to the group.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 93, this industry ranks in the top 37% of all industries, numbering over 250.
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.
To follow NGD in the coming trading sessions, be sure to utilize Zacks.com.
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New Gold (NGD) Ascends But Remains Behind Market: Some Facts to Note
The most recent trading session ended with New Gold (NGD - Free Report) standing at $2.82, reflecting a +0.36% shift from the previouse trading day's closing. The stock lagged the S&P 500's daily gain of 0.61%. On the other hand, the Dow registered a gain of 0.97%, and the technology-centric Nasdaq increased by 0.33%.
Shares of the gold mining company witnessed a loss of 2.77% over the previous month, trailing the performance of the Basic Materials sector with its gain of 6.17% and the S&P 500's gain of 5.36%.
The upcoming earnings release of New Gold will be of great interest to investors. The company's earnings report is expected on October 29, 2024. The company is predicted to post an EPS of $0.04, indicating a 33.33% growth compared to the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.15 per share and a revenue of $969 million, indicating changes of +114.29% and +23.2%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for New Gold. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 6.25% lower within the past month. New Gold is currently sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that New Gold has a Forward P/E ratio of 19.16 right now. For comparison, its industry has an average Forward P/E of 15.75, which means New Gold is trading at a premium to the group.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 93, this industry ranks in the top 37% of all industries, numbering over 250.
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.
To follow NGD in the coming trading sessions, be sure to utilize Zacks.com.