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New Gold (NGD) Stock Slides as Market Rises: Facts to Know Before You Trade
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New Gold (NGD - Free Report) ended the recent trading session at $1.94, demonstrating a -1.02% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.09% for the day. Elsewhere, the Dow lost 0.1%, while the tech-heavy Nasdaq added 0.16%.
Coming into today, shares of the gold mining company had lost 0.51% in the past month. In that same time, the Basic Materials sector lost 3.97%, while the S&P 500 gained 2.83%.
The upcoming earnings release of New Gold will be of great interest to investors. The company is predicted to post an EPS of $0.02, indicating constancy compared to the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $0.13 per share and a revenue of $906.5 million, demonstrating changes of +85.71% and +15.26%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for New Gold. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 past month, the Zacks Consensus EPS estimate has moved 9.29% higher. As of now, New Gold holds a Zacks Rank of #1 (Strong Buy).
In the context of valuation, New Gold is at present trading with a Forward P/E ratio of 15.37. This represents a premium compared to its industry's average Forward P/E of 15.07.
The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 80, positioning it in the top 32% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the 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) Stock Slides as Market Rises: Facts to Know Before You Trade
New Gold (NGD - Free Report) ended the recent trading session at $1.94, demonstrating a -1.02% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.09% for the day. Elsewhere, the Dow lost 0.1%, while the tech-heavy Nasdaq added 0.16%.
Coming into today, shares of the gold mining company had lost 0.51% in the past month. In that same time, the Basic Materials sector lost 3.97%, while the S&P 500 gained 2.83%.
The upcoming earnings release of New Gold will be of great interest to investors. The company is predicted to post an EPS of $0.02, indicating constancy compared to the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $0.13 per share and a revenue of $906.5 million, demonstrating changes of +85.71% and +15.26%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for New Gold. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 past month, the Zacks Consensus EPS estimate has moved 9.29% higher. As of now, New Gold holds a Zacks Rank of #1 (Strong Buy).
In the context of valuation, New Gold is at present trading with a Forward P/E ratio of 15.37. This represents a premium compared to its industry's average Forward P/E of 15.07.
The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 80, positioning it in the top 32% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the 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.