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New Gold (NGD) Rises As Market Takes a Dip: Key Facts
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The latest trading session saw New Gold (NGD - Free Report) ending at $2.40, denoting a +0.84% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily loss of 0.88%. Elsewhere, the Dow saw an upswing of 0.08%, while the tech-heavy Nasdaq depreciated by 1.95%.
Coming into today, shares of the gold mining company had gained 19.6% in the past month. In that same time, the Basic Materials sector lost 2.77%, while the S&P 500 gained 5.11%.
Investors will be eagerly watching for the performance of New Gold in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 30, 2024. The company is expected to report EPS of $0.02, unchanged from the prior-year quarter.
NGD's full-year Zacks Consensus Estimates are calling for earnings of $0.15 per share and revenue of $906.5 million. These results would represent year-over-year changes of +114.29% and +15.26%, respectively.
Investors might also notice recent changes to analyst estimates for New Gold. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 22.22% rise in the Zacks Consensus EPS estimate. New Gold currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note New Gold's current valuation metrics, including its Forward P/E ratio of 16.23. This indicates a discount in contrast to its industry's Forward P/E of 16.4.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 46, putting it in the top 19% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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New Gold (NGD) Rises As Market Takes a Dip: Key Facts
The latest trading session saw New Gold (NGD - Free Report) ending at $2.40, denoting a +0.84% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily loss of 0.88%. Elsewhere, the Dow saw an upswing of 0.08%, while the tech-heavy Nasdaq depreciated by 1.95%.
Coming into today, shares of the gold mining company had gained 19.6% in the past month. In that same time, the Basic Materials sector lost 2.77%, while the S&P 500 gained 5.11%.
Investors will be eagerly watching for the performance of New Gold in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 30, 2024. The company is expected to report EPS of $0.02, unchanged from the prior-year quarter.
NGD's full-year Zacks Consensus Estimates are calling for earnings of $0.15 per share and revenue of $906.5 million. These results would represent year-over-year changes of +114.29% and +15.26%, respectively.
Investors might also notice recent changes to analyst estimates for New Gold. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 22.22% rise in the Zacks Consensus EPS estimate. New Gold currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note New Gold's current valuation metrics, including its Forward P/E ratio of 16.23. This indicates a discount in contrast to its industry's Forward P/E of 16.4.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 46, putting it in the top 19% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.