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New Gold (NGD) Gains As Market Dips: What You Should Know
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The latest trading session saw New Gold (NGD - Free Report) ending at $2.36, denoting a +0.85% adjustment from its last day's close. This move outpaced the S&P 500's daily loss of 0.16%. At the same time, the Dow added 0.09%, and the tech-heavy Nasdaq lost 0.3%.
Shares of the gold mining company witnessed a gain of 8.84% over the previous month, beating the performance of the Basic Materials sector with its gain of 0.19% and the S&P 500's gain of 3.64%.
The investment community will be closely monitoring the performance of New Gold in its forthcoming earnings report. In that report, analysts expect New Gold to post earnings of $0.03 per share. This would mark no growth from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $0.14 per share and a revenue of $959 million, demonstrating changes of +100% and +21.93%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for New Gold. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 past month, the Zacks Consensus EPS estimate remained stagnant. Currently, New Gold is carrying a Zacks Rank of #4 (Sell).
In terms of valuation, New Gold is currently trading at a Forward P/E ratio of 16.71. For comparison, its industry has an average Forward P/E of 15.45, which means New Gold is trading at a premium to the group.
The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 87, finds itself in the top 35% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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New Gold (NGD) Gains As Market Dips: What You Should Know
The latest trading session saw New Gold (NGD - Free Report) ending at $2.36, denoting a +0.85% adjustment from its last day's close. This move outpaced the S&P 500's daily loss of 0.16%. At the same time, the Dow added 0.09%, and the tech-heavy Nasdaq lost 0.3%.
Shares of the gold mining company witnessed a gain of 8.84% over the previous month, beating the performance of the Basic Materials sector with its gain of 0.19% and the S&P 500's gain of 3.64%.
The investment community will be closely monitoring the performance of New Gold in its forthcoming earnings report. In that report, analysts expect New Gold to post earnings of $0.03 per share. This would mark no growth from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $0.14 per share and a revenue of $959 million, demonstrating changes of +100% and +21.93%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for New Gold. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 past month, the Zacks Consensus EPS estimate remained stagnant. Currently, New Gold is carrying a Zacks Rank of #4 (Sell).
In terms of valuation, New Gold is currently trading at a Forward P/E ratio of 16.71. For comparison, its industry has an average Forward P/E of 15.45, which means New Gold is trading at a premium to the group.
The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 87, finds itself in the top 35% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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 follow all of these stock-moving metrics, and many more, on Zacks.com.