New Gold(US:NGD) ZACKSยท2024-10-07 23:05Group 1 - New Gold's stock closed at $2.76, down 1.43% from the previous trading day, underperforming compared to the S&P 500, which fell 0.96% [1] - Over the past month, New Gold's shares have increased by 20.17%, significantly outperforming the Basic Materials sector's gain of 8.15% and the S&P 500's gain of 4.3% [1] - The upcoming earnings report on October 29, 2024, is anticipated to show earnings of $0.04 per share, reflecting a year-over-year growth of 33.33% [2] Group 2 - For the full year, earnings are projected at $0.15 per share and revenue at $969 million, indicating increases of 114.29% and 23.2% respectively from the previous year [2] - Recent analyst estimate revisions are crucial as they reflect current business trends and analysts' confidence in New Gold's performance [3] - The Zacks Rank system, which assesses estimate changes, currently rates New Gold at 4 (Sell), with a 6.25% decrease in the consensus EPS estimate over the last 30 days [5] Group 3 - New Gold's Forward P/E ratio stands at 19.09, which is higher than the industry's Forward P/E of 15.36, indicating a premium valuation [6] - The Mining - Gold industry is part of the Basic Materials sector and holds a Zacks Industry Rank of 89, placing it in the top 36% of over 250 industries [6] - The Zacks Industry Rank suggests that the top 50% of rated industries outperform the bottom half by a factor of 2 to 1, highlighting the importance of industry strength [7]