In the latest market close, New Gold (NGD) reached $3.59, with a +0.56% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.79%. Meanwhile, the Dow gained 0.78%, and the Nasdaq, a tech-heavy index, added 0.64%.
Coming into today, shares of the gold mining company had gained 11.91% in the past month. In that same time, the Basic Materials sector lost 4.43%, while the S&P 500 lost 3.56%.
Analysts and investors alike will be keeping a close eye on the performance of New Gold in its upcoming earnings disclosure. The company's earnings report is set to go public on April 29, 2025. The company is forecasted to report an EPS of $0.01, showcasing a 50% downward movement from the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.37 per share and revenue of $1.12 billion. These totals would mark changes of +85% and +21.15%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for New Gold. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 57.45% upward. Right now, New Gold possesses a Zacks Rank of #3 (Hold).
Investors should also note New Gold's current valuation metrics, including its Forward P/E ratio of 9.65. This signifies a discount in comparison to the average Forward P/E of 15.23 for its industry.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 145, putting it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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New Gold Inc. (NGD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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