U.S. Markets open in 3 hrs 24 mins

New Gold (NGD) Soars: Stock Rises 5.2%

Zacks Equity Research

New Gold, Inc. (NGD) was a big mover last session, as its shares rose over 5% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent downtrend for the company, as the stock is now down nearly 3% in the past one-month timeframe.

In the last 30 days, the company witnessed one negative estimate revision while the Zacks Consensus Estimate remained unchanged. Yesterday’s price action is encouraging though, so make sure to keep a close watch on this firm going forward.

New Gold currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.

Other better-ranked stocks in the gold mining industry include DRDGOLD Ltd. (DRD), Agnico Eagle Mines Limited (AEM) and Gold Resource Corp (GORO). All three carry a Zacks Rank #2 (Buy).

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 Report

GOLD RESOURCE CORP (GORO): Free Stock Analysis Report

DRDGOLD LTD (DRD): Free Stock Analysis Report

AGNICO EAGLE MINES LTD (AEM): Free Stock Analysis Report

Zacks Investment Research