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New Gold (NGD) Registers a Bigger Fall Than the Market: Important Facts to Note
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In the latest close session, New Gold (NGD - Free Report) was down 2.84% at $10.25. The stock's change was less than the S&P 500's daily loss of 0.19%. Elsewhere, the Dow lost 0.8%, while the tech-heavy Nasdaq lost 0.1%.
The gold mining company's shares have seen an increase of 28.34% over the last month, surpassing the Basic Materials sector's gain of 6.36% and the S&P 500's gain of 2.26%.
Market participants will be closely following the financial results of New Gold in its upcoming release. On that day, New Gold is projected to report earnings of $0.28 per share, which would represent year-over-year growth of 300%.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.58 per share and revenue of $0 million. These totals would mark changes of +190% and 0%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for New Gold. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, New Gold possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, New Gold is holding a Forward P/E ratio of 9.56. This represents a discount compared to its industry average Forward P/E of 13.18.
The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 32% of all 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.
To follow NGD in the coming trading sessions, be sure to utilize Zacks.com.
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New Gold (NGD) Registers a Bigger Fall Than the Market: Important Facts to Note
In the latest close session, New Gold (NGD - Free Report) was down 2.84% at $10.25. The stock's change was less than the S&P 500's daily loss of 0.19%. Elsewhere, the Dow lost 0.8%, while the tech-heavy Nasdaq lost 0.1%.
The gold mining company's shares have seen an increase of 28.34% over the last month, surpassing the Basic Materials sector's gain of 6.36% and the S&P 500's gain of 2.26%.
Market participants will be closely following the financial results of New Gold in its upcoming release. On that day, New Gold is projected to report earnings of $0.28 per share, which would represent year-over-year growth of 300%.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.58 per share and revenue of $0 million. These totals would mark changes of +190% and 0%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for New Gold. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, New Gold possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, New Gold is holding a Forward P/E ratio of 9.56. This represents a discount compared to its industry average Forward P/E of 13.18.
The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 32% of all 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.
To follow NGD in the coming trading sessions, be sure to utilize Zacks.com.