New Gold (NGD) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest market close, New Gold (NGD) reached $2.73, with a -1.44% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 1.83% for the day. At the same time, the Dow added 1.65%, and the tech-heavy Nasdaq gained 2.45%.Prior to today's trading, shares of the gold mining company had gained 4.14% over the past month. This has outpaced the Basic Materials sector's loss of 6.01% and the S&P 500's loss of 3.31% in that time.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 $0.05, showcasing a 600% upward movement from the corresponding quarter of the prior year.Investors should also pay attention to any latest changes in 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.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 last 30 days, the Zacks Consensus EPS estimate has moved 8.65% higher. New Gold presently features a Zacks Rank of #3 (Hold).Looking at its valuation, New Gold is holding a Forward P/E ratio of 9.81. This represents a discount compared to its industry's average Forward P/E of 9.88.The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 86, finds itself in the top 35% echelons of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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