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New Gold (NGD) Gains As Market Dips: What You Should Know
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New Gold (NGD - Free Report) closed the most recent trading day at $2.85, moving +1.06% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 1.78%. At the same time, the Dow lost 0.99%, and the tech-heavy Nasdaq lost 2.61%.
Coming into today, shares of the gold mining company had lost 9.32% in the past month. In that same time, the Basic Materials sector lost 0.13%, while the S&P 500 lost 3.48%.
The investment community will be closely monitoring the performance of New Gold in its forthcoming earnings report. The company is forecasted to report an EPS of $0, showcasing a 100% downward movement from the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.24 per share and revenue of $1.19 billion, which would represent changes of +20% and +28.88%, respectively, from the prior year.
Investors should also pay attention to any latest changes in 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 13.76% decrease. Currently, New Gold is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that New Gold has a Forward P/E ratio of 12 right now. Its industry sports an average Forward P/E of 12.13, so one might conclude that New Gold is trading at a discount comparatively.
It's also important to note that NGD currently trades at a PEG ratio of 0.71. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Gold industry currently had an average PEG ratio of 0.89 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 66, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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New Gold (NGD) Gains As Market Dips: What You Should Know
New Gold (NGD - Free Report) closed the most recent trading day at $2.85, moving +1.06% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 1.78%. At the same time, the Dow lost 0.99%, and the tech-heavy Nasdaq lost 2.61%.
Coming into today, shares of the gold mining company had lost 9.32% in the past month. In that same time, the Basic Materials sector lost 0.13%, while the S&P 500 lost 3.48%.
The investment community will be closely monitoring the performance of New Gold in its forthcoming earnings report. The company is forecasted to report an EPS of $0, showcasing a 100% downward movement from the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.24 per share and revenue of $1.19 billion, which would represent changes of +20% and +28.88%, respectively, from the prior year.
Investors should also pay attention to any latest changes in 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 13.76% decrease. Currently, New Gold is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that New Gold has a Forward P/E ratio of 12 right now. Its industry sports an average Forward P/E of 12.13, so one might conclude that New Gold is trading at a discount comparatively.
It's also important to note that NGD currently trades at a PEG ratio of 0.71. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Gold industry currently had an average PEG ratio of 0.89 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 66, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.