Here's Why New Gold (NGD) Fell More Than Broader Market

Company Performance - New Gold (NGD) closed at $6.43, reflecting a -4.6% change from the previous day's closing price, which is less than the S&P 500's daily loss of 0.13% [1] - Over the past month, New Gold's shares gained 29.61%, outperforming the Basic Materials sector's gain of 6.19% and the S&P 500's gain of 2.71% [1] Earnings Expectations - Analysts expect New Gold to report earnings of $0.17 per share in the upcoming earnings report, indicating a year-over-year growth of 112.5% [2] - For the annual period, Zacks Consensus Estimates project earnings of $0.5 per share and revenue of $1.41 billion, representing increases of +150% and +52.62% respectively from the previous year [2] Analyst Estimates and Market Sentiment - Recent modifications to analyst estimates for New Gold suggest a changing landscape in near-term business trends, with positive revisions indicating analyst optimism about the company's profitability [3] - The Zacks Rank system, which incorporates estimate changes, currently ranks New Gold at 3 (Hold), with a Forward P/E ratio of 13.48, lower than the industry average of 14.26 [5] Industry Context - The Mining - Gold industry, part of the Basic Materials sector, holds a Zacks Industry Rank of 157, placing it in the bottom 37% of over 250 industries [6] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [6]