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New Gold (NGD) Stock Falls Amid Market Uptick: What Investors Need to Know
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In the latest close session, New Gold (NGD - Free Report) was down 1.22% at $4.85. The stock's performance was behind the S&P 500's daily gain of 0.94%. Meanwhile, the Dow experienced a rise of 0.75%, and the technology-dominated Nasdaq saw an increase of 1.52%.
Shares of the gold mining company have appreciated by 30.24% over the course of the past month, outperforming the Basic Materials sector's gain of 3.31%, and the S&P 500's gain of 1.67%.
The upcoming earnings release of New Gold will be of great interest to investors. The company is forecasted to report an EPS of $0.08, showcasing a 300% upward movement from the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.39 per share and revenue of $1.31 billion. These totals would mark changes of +95% and +41.21%, respectively, from last year.
Any recent changes to analyst estimates for New Gold should also be noted by investors. 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 business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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 moved 1.96% higher. Currently, New Gold is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, New Gold currently has a Forward P/E ratio of 12.59. This indicates a discount in contrast to its industry's Forward P/E of 13.4.
The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 45, finds itself in the top 19% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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New Gold (NGD) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest close session, New Gold (NGD - Free Report) was down 1.22% at $4.85. The stock's performance was behind the S&P 500's daily gain of 0.94%. Meanwhile, the Dow experienced a rise of 0.75%, and the technology-dominated Nasdaq saw an increase of 1.52%.
Shares of the gold mining company have appreciated by 30.24% over the course of the past month, outperforming the Basic Materials sector's gain of 3.31%, and the S&P 500's gain of 1.67%.
The upcoming earnings release of New Gold will be of great interest to investors. The company is forecasted to report an EPS of $0.08, showcasing a 300% upward movement from the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.39 per share and revenue of $1.31 billion. These totals would mark changes of +95% and +41.21%, respectively, from last year.
Any recent changes to analyst estimates for New Gold should also be noted by investors. 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 business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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 moved 1.96% higher. Currently, New Gold is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, New Gold currently has a Forward P/E ratio of 12.59. This indicates a discount in contrast to its industry's Forward P/E of 13.4.
The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 45, finds itself in the top 19% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.