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New Gold (NGD) Declines More Than Market: Some Information for Investors
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New Gold (NGD - Free Report) ended the recent trading session at $2.88, demonstrating a -1.71% swing from the preceding day's closing price. This change lagged the S&P 500's 0.02% loss on the day. At the same time, the Dow added 0.38%, and the tech-heavy Nasdaq gained 0.04%.
The gold mining company's stock has dropped by 2.01% in the past month, falling short of the Basic Materials sector's gain of 7.12% and the S&P 500's gain of 3.77%.
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. In that report, analysts expect New Gold to post earnings of $0.04 per share. This would mark year-over-year growth of 33.33%.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.15 per share and a revenue of $969 million, signifying shifts of +114.29% and +23.2%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for New Gold. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.33% lower. New Gold is currently a Zacks Rank #4 (Sell).
With respect to valuation, New Gold is currently being traded at a Forward P/E ratio of 19.98. This expresses a premium compared to the average Forward P/E of 14.56 of its industry.
The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 24, positioning it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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New Gold (NGD) Declines More Than Market: Some Information for Investors
New Gold (NGD - Free Report) ended the recent trading session at $2.88, demonstrating a -1.71% swing from the preceding day's closing price. This change lagged the S&P 500's 0.02% loss on the day. At the same time, the Dow added 0.38%, and the tech-heavy Nasdaq gained 0.04%.
The gold mining company's stock has dropped by 2.01% in the past month, falling short of the Basic Materials sector's gain of 7.12% and the S&P 500's gain of 3.77%.
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. In that report, analysts expect New Gold to post earnings of $0.04 per share. This would mark year-over-year growth of 33.33%.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.15 per share and a revenue of $969 million, signifying shifts of +114.29% and +23.2%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for New Gold. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.33% lower. New Gold is currently a Zacks Rank #4 (Sell).
With respect to valuation, New Gold is currently being traded at a Forward P/E ratio of 19.98. This expresses a premium compared to the average Forward P/E of 14.56 of its industry.
The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 24, positioning it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.