The most recent trading session ended with New Gold (NGD) standing at $2.76, reflecting a -1.43% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily loss of 0.96%. Meanwhile, the Dow lost 0.94%, and the Nasdaq, a tech-heavy index, lost 1.18%.

Coming into today, shares of the gold mining company had gained 20.17% in the past month. In that same time, the Basic Materials sector gained 8.15%, while the S&P 500 gained 4.3%.

The investment community will be closely monitoring the performance of New Gold in its forthcoming earnings report. The company is scheduled to release its earnings on October 29, 2024. In that report, analysts expect New Gold to post earnings of $0.04 per share. This would mark year-over-year growth of 33.33%.

For the full year, the Zacks Consensus Estimates project earnings of $0.15 per share and a revenue of $969 million, demonstrating changes of +114.29% and +23.2%, respectively, from the preceding year.

It's also important for investors to be aware of any recent modifications to analyst estimates for New Gold. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 6.25% lower. Currently, New Gold is carrying a Zacks Rank of #4 (Sell).

Looking at valuation, New Gold is presently trading at a Forward P/E ratio of 19.09. This indicates a premium in contrast to its industry's Forward P/E of 15.36.

The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 89, finds itself in the top 36% echelons of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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