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It can be very difficult to find companies that are both flying under the radar, and still might have potential for gains. Many times, stocks are off investors’ radar screens for a reason, though there are some hidden gems that could be worth uncovering by those with a high risk tolerance.
One way to find these underappreciated stocks is by looking at companies that haven’t seen their share prices move higher lately, but have observed analysts raising earnings estimates for their stock. This trend could signal that investors haven’t quite embraced the rising estimate story yet, but that the potential for a big move higher is definitely there
One such company that looks well positioned for a solid gain, but has been overlooked by investors lately, is New Gold, Inc. (NGD - Free Report) . This Mining-Gold stock has actually seen estimates rise over the past month for the current fiscal year significantly.But that is not yet reflected in its price, as the stock lost 13.8% over the same time frame.
You should not be concerned about the price remaining muted going forward. This year’s expected earnings growth over the prior year is significant, which should ultimately translate into price appreciation.
And if this isn’t enough, NGD currently carries a Zacks Rank #1 (Strong Buy) which further underscores the potential for its outperformance (See the performance of Zacks' portfolios and strategies here: About Zacks Performance).
So if you are looking for a stock flying under-the-radar that is well-equipped to bounce down the road, make sure to consider New Gold. Solid estimate revisions and an impressive Zacks Rank suggest that better days may be ahead for NGD and that now might be an interesting buying opportunity.
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
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Why New Gold (NGD) Could Be a Potential Winner
It can be very difficult to find companies that are both flying under the radar, and still might have potential for gains. Many times, stocks are off investors’ radar screens for a reason, though there are some hidden gems that could be worth uncovering by those with a high risk tolerance.
One way to find these underappreciated stocks is by looking at companies that haven’t seen their share prices move higher lately, but have observed analysts raising earnings estimates for their stock. This trend could signal that investors haven’t quite embraced the rising estimate story yet, but that the potential for a big move higher is definitely there
One such company that looks well positioned for a solid gain, but has been overlooked by investors lately, is New Gold, Inc. (NGD - Free Report) . This Mining-Gold stock has actually seen estimates rise over the past month for the current fiscal year significantly.But that is not yet reflected in its price, as the stock lost 13.8% over the same time frame.
NEW GOLD INC Price and Consensus
NEW GOLD INC Price and Consensus | NEW GOLD INC Quote
You should not be concerned about the price remaining muted going forward. This year’s expected earnings growth over the prior year is significant, which should ultimately translate into price appreciation.
And if this isn’t enough, NGD currently carries a Zacks Rank #1 (Strong Buy) which further underscores the potential for its outperformance (See the performance of Zacks' portfolios and strategies here: About Zacks Performance).
So if you are looking for a stock flying under-the-radar that is well-equipped to bounce down the road, make sure to consider New Gold. Solid estimate revisions and an impressive Zacks Rank suggest that better days may be ahead for NGD and that now might be an interesting buying opportunity.
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>