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Why the Market Dipped But New Gold (NGD) Gained Today
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New Gold (NGD - Free Report) closed the most recent trading day at $2.93, moving +1.56% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.93%. Elsewhere, the Dow saw a downswing of 0.41%, while the tech-heavy Nasdaq depreciated by 1.53%.
Shares of the gold mining company have appreciated by 14.74% over the course of the past month, outperforming the Basic Materials sector's gain of 4.73% and the S&P 500's gain of 2.17%.
Investors will be eagerly watching for the performance of New Gold in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.03, marking stability compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $0.15 per share and a revenue of $969 million, demonstrating changes of +114.29% and +23.2%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for New Gold. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, the Zacks Consensus EPS estimate has shifted 8.33% downward. At present, New Gold boasts a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that New Gold has a Forward P/E ratio of 19.64 right now. This valuation marks a premium compared to its industry's average Forward P/E of 15.69.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% 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.
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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Why the Market Dipped But New Gold (NGD) Gained Today
New Gold (NGD - Free Report) closed the most recent trading day at $2.93, moving +1.56% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.93%. Elsewhere, the Dow saw a downswing of 0.41%, while the tech-heavy Nasdaq depreciated by 1.53%.
Shares of the gold mining company have appreciated by 14.74% over the course of the past month, outperforming the Basic Materials sector's gain of 4.73% and the S&P 500's gain of 2.17%.
Investors will be eagerly watching for the performance of New Gold in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.03, marking stability compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $0.15 per share and a revenue of $969 million, demonstrating changes of +114.29% and +23.2%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for New Gold. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, the Zacks Consensus EPS estimate has shifted 8.33% downward. At present, New Gold boasts a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that New Gold has a Forward P/E ratio of 19.64 right now. This valuation marks a premium compared to its industry's average Forward P/E of 15.69.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.