New Gold (NGD) Declines More Than Market: Some Information for Investors
New Gold (NGD) closed the most recent trading day at $3.33, moving -1.48% from the previous trading session. This change lagged the S&P 500's 0.22% loss on the day. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 0.33%.The gold mining company's stock has climbed by 17.36% in the past month, exceeding the Basic Materials sector's loss of 0.38% and the S&P 500's loss of 7.48%.The investment community will be closely monitoring the performance of New Gold in its forthcoming earnings report. The company is forecasted to report an EPS of $0, showcasing a 100% downward movement from the corresponding quarter of the prior year.For the full year, the Zacks Consensus Estimates are projecting earnings of $0.24 per share and revenue of $1.12 billion, which would represent changes of +20% and +21.15%, respectively, from the prior year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for New Gold. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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, there's been a 6.93% fall in the Zacks Consensus EPS estimate. Right now, New Gold possesses a Zacks Rank of #3 (Hold).Looking at valuation, New Gold is presently trading at a Forward P/E ratio of 14.38. Its industry sports an average Forward P/E of 13.95, so one might conclude that New Gold is trading at a premium comparatively.Also, we should mention that NGD has a PEG ratio of 0.85. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Mining - Gold was holding an average PEG ratio of 1.01 at yesterday's closing price.The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 154, positioning 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.You can find more information on all of these metrics, and much more, on Zacks.com.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report New Gold Inc. (NGD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
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