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New Gold (NGD) Declines More Than Market: Some Information for Investors
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The most recent trading session ended with New Gold (NGD - Free Report) standing at $2.24, reflecting a -1.54% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.71% loss on the day. At the same time, the Dow lost 0.93%, and the tech-heavy Nasdaq lost 0.81%.
The the stock of gold mining company has risen by 13.5% in the past month, leading the Basic Materials sector's loss of 0.77% and the S&P 500's gain of 1.08%.
Analysts and investors alike will be keeping a close eye on the performance of New Gold in its upcoming earnings disclosure. The company's earnings report is set to go public on July 30, 2024. The company is forecasted to report an EPS of $0.02, showcasing no movement from the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.15 per share and a revenue of $906.5 million, signifying shifts of +114.29% and +15.26%, respectively, from the last year.
Any recent changes to analyst estimates for New Gold should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 15.03% higher. At present, New Gold boasts a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that New Gold has a Forward P/E ratio of 15.48 right now. This denotes a discount relative to the industry's average Forward P/E of 16.29.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 29, putting it in the top 12% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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New Gold (NGD) Declines More Than Market: Some Information for Investors
The most recent trading session ended with New Gold (NGD - Free Report) standing at $2.24, reflecting a -1.54% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.71% loss on the day. At the same time, the Dow lost 0.93%, and the tech-heavy Nasdaq lost 0.81%.
The the stock of gold mining company has risen by 13.5% in the past month, leading the Basic Materials sector's loss of 0.77% and the S&P 500's gain of 1.08%.
Analysts and investors alike will be keeping a close eye on the performance of New Gold in its upcoming earnings disclosure. The company's earnings report is set to go public on July 30, 2024. The company is forecasted to report an EPS of $0.02, showcasing no movement from the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.15 per share and a revenue of $906.5 million, signifying shifts of +114.29% and +15.26%, respectively, from the last year.
Any recent changes to analyst estimates for New Gold should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 15.03% higher. At present, New Gold boasts a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that New Gold has a Forward P/E ratio of 15.48 right now. This denotes a discount relative to the industry's average Forward P/E of 16.29.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 29, putting it in the top 12% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.