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Why the Market Dipped But New Gold (NGD) Gained Today
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New Gold (NGD - Free Report) closed at $6.95 in the latest trading session, marking a +1.24% move from the prior day. This move outpaced the S&P 500's daily loss of 0.55%. Elsewhere, the Dow lost 0.19%, while the tech-heavy Nasdaq lost 0.95%.
The gold mining company's stock has climbed by 24.05% in the past month, exceeding the Basic Materials sector's gain of 4.52% and the S&P 500's gain of 3.64%.
Investors will be eagerly watching for the performance of New Gold in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.17, showcasing a 112.5% upward movement from the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.5 per share and revenue of $1.41 billion. These totals would mark changes of +150% and +52.62%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for New Gold. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 4.71% upward. New Gold is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, New Gold is currently exchanging hands at a Forward P/E ratio of 13.72. This valuation marks a discount compared to its industry average Forward P/E of 15.94.
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 40% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Why the Market Dipped But New Gold (NGD) Gained Today
New Gold (NGD - Free Report) closed at $6.95 in the latest trading session, marking a +1.24% move from the prior day. This move outpaced the S&P 500's daily loss of 0.55%. Elsewhere, the Dow lost 0.19%, while the tech-heavy Nasdaq lost 0.95%.
The gold mining company's stock has climbed by 24.05% in the past month, exceeding the Basic Materials sector's gain of 4.52% and the S&P 500's gain of 3.64%.
Investors will be eagerly watching for the performance of New Gold in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.17, showcasing a 112.5% upward movement from the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.5 per share and revenue of $1.41 billion. These totals would mark changes of +150% and +52.62%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for New Gold. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 4.71% upward. New Gold is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, New Gold is currently exchanging hands at a Forward P/E ratio of 13.72. This valuation marks a discount compared to its industry average Forward P/E of 15.94.
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 40% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.