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New Gold (NGD) Stock Falls Amid Market Uptick: What Investors Need to Know

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New Gold (NGD - Free Report) ended the recent trading session at $8.56, demonstrating a -1.72% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 0.19%. Meanwhile, the Dow gained 0.66%, and the Nasdaq, a tech-heavy index, lost 0.03%.

Shares of the gold mining company have appreciated by 11.81% over the course of the past month, outperforming the Basic Materials sector's gain of 3.51%, and the S&P 500's gain of 0.54%.

Analysts and investors alike will be keeping a close eye on the performance of New Gold in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.28, marking a 300% rise compared to the same quarter of the previous year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.58 per share and a revenue of $0 million, indicating changes of +190% and 0%, respectively, from the former year.

It's also important for investors to be aware of any recent modifications 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. New Gold is currently a Zacks Rank #3 (Hold).

From a valuation perspective, New Gold is currently exchanging hands at a Forward P/E ratio of 7.89. This valuation marks a discount compared to its industry average Forward P/E of 11.89.

The Mining - Gold industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 71, placing it within the top 29% of over 250 industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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