New Gold (NGD) Flat As Market Sinks: What You Should Know
New Gold (NGD) ended the recent trading session at $2.99, demonstrating no swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 0.95%. Elsewhere, the Dow saw a downswing of 0.99%, while the tech-heavy Nasdaq depreciated by 1.36%.The gold mining company's stock has climbed by 9.12% in the past month, exceeding the Basic Materials sector's gain of 7.84% and the S&P 500's gain of 1.86%.The investment community will be closely monitoring the performance of New Gold in its forthcoming earnings report. On that day, New Gold is projected to report earnings of $0.06 per share, which would represent year-over-year growth of 700%.Investors might also notice recent changes to analyst estimates for New Gold. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.81% higher. 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 10.97. This denotes a discount relative to the industry's average Forward P/E of 11.26.The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 81, which puts it in the top 33% of all 250+ industries.The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.Free Today: Profiting from The Future’s Brightest Energy SourceThe demand for electricity is growing exponentially. At the same time, we’re working to reduce our dependence on fossil fuels like oil and natural gas. Nuclear energy is an ideal replacement.Leaders from the US and 21 other countries recently committed to TRIPLING the world’s nuclear energy capacities. This aggressive transition could mean tremendous profits for nuclear-related stocks – and investors who get in on the action early enough.Our urgent report, Atomic Opportunity: Nuclear Energy's Comeback, explores the key players and technologies driving this opportunity, including 3 standout stocks poised to benefit the most.Download Atomic Opportunity: Nuclear Energy's Comeback free today.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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
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