The most recent trading session ended with New Gold (NGD) standing at $3.68, reflecting a +1.1% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily loss of 2.36%. At the same time, the Dow lost 2.48%, and the tech-heavy Nasdaq lost 2.55%.
Shares of the gold mining company witnessed a gain of 13.04% over the previous month, beating the performance of the Basic Materials sector with its loss of 5.84% and the S&P 500's loss of 5.6%.
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. On that day, New Gold is projected to report earnings of $0.01 per share, which would represent a year-over-year decline of 50%.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.37 per share and revenue of $1.12 billion, indicating changes of +85% and +21.15%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for New Gold. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 a 61.96% increase. New Gold is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, New Gold is presently trading at a Forward P/E ratio of 9.77. This represents a discount compared to its industry's average Forward P/E of 15.61.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 153, which puts it in the bottom 39% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next 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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