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New Gold (NGD) Stock Moves 0.81%: What You Should Know
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In the latest market close, New Gold (NGD - Free Report) reached $2.49, with a +0.81% movement compared to the previous day. Meanwhile, the Dow experienced a rise of 0.59%, and the technology-dominated Nasdaq saw a decrease of 0.23%.
Heading into today, shares of the gold mining company had gained 6.93% over the past month, outpacing the Basic Materials sector's loss of 0.05% and the S&P 500's gain of 2.55% in that time.
Market participants will be closely following the financial results of New Gold in its upcoming release. The company is predicted to post an EPS of $0.03, indicating constancy compared to the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.14 per share and revenue of $959 million, indicating changes of +100% and +21.93%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for New Gold. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.33% lower. Currently, New Gold is carrying a Zacks Rank of #4 (Sell).
Digging into valuation, New Gold currently has a Forward P/E ratio of 17.64. This signifies a premium in comparison to the average Forward P/E of 17.05 for its industry.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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) Stock Moves 0.81%: What You Should Know
In the latest market close, New Gold (NGD - Free Report) reached $2.49, with a +0.81% movement compared to the previous day. Meanwhile, the Dow experienced a rise of 0.59%, and the technology-dominated Nasdaq saw a decrease of 0.23%.
Heading into today, shares of the gold mining company had gained 6.93% over the past month, outpacing the Basic Materials sector's loss of 0.05% and the S&P 500's gain of 2.55% in that time.
Market participants will be closely following the financial results of New Gold in its upcoming release. The company is predicted to post an EPS of $0.03, indicating constancy compared to the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.14 per share and revenue of $959 million, indicating changes of +100% and +21.93%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for New Gold. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.33% lower. Currently, New Gold is carrying a Zacks Rank of #4 (Sell).
Digging into valuation, New Gold currently has a Forward P/E ratio of 17.64. This signifies a premium in comparison to the average Forward P/E of 17.05 for its industry.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.