Why Shares of New Gold Lost Their Luster Today
Failing to provide investors with a glittering earnings report, New Gold's (NYSEMKT: NGD) stock plunged 10% today. Besides the company's disappointing earnings report, investors chose to exit their positions after learning that New Gold's expectation for the rest of 2021 is not as bright as it had originally been.
Failing to meet analysts' revenue estimates of $217.3 million, New Gold reported $198.2 million on the top line for the second quarter of 2021. The bottom line didn't sparkle in investors' eyes, either, as the company reported a $0.02 per-share net loss, coming up short of analysts' expectations of $0.01 earnings per share.
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Source Fool.com
