New Gold, Inc. (AMEX: NGD ) This mid-cap gold company with assets in the U.S.
and the Americas is expected by Zacks to increase earnings in 2012 by 9% to 59
cents, a 29% growth projection. NGD reported second-quarter earnings of 12 cents
per share, which met the consensus of nine analysts. New Gold will announce
third-quarter earnings Nov. 4, and analysts expect the company to outperform the
sector. In early August, the stock broke from a four-month consolidation at just
over $11, supported by very high volume. But a general correction in gold drove
the stock to its bullish support line and 200-day moving average at $10.50,
where it rebounded. The stock sells at a discount to its group and technically
could break its high, then drive to $15 before the end of this year. Buy NGD
stock at the market.
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