We recently published an article titled Excellent Earnings Propelled Prices of These 10 Firms. In this article, we are going to take a look at where New Gold Inc. (NYSEAMERICAN:NGD) stands against the other stocks that soared on Wednesday.

The stock market finished Wednesday's trading on a lackluster note, with the three major indices finishing mixed, as investors digested news of the US economy’s contraction in the first quarter of the year that triggered fears of a possible recession.

Among all major indices, only the Dow Jones and S&P 500 ended in the green, up 0.35 percent and 0.15 percent, respectively. In contrast, the tech-heavy Nasdaq dipped by 0.09 percent.

Ten firms, on the other hand, managed to record strong gains, thanks to impressive earnings performance and optimistic outlooks for the rest of the year.

We have named 10 of the top-performing stocks on Wednesday and detailed the reasons behind their gains.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.

Aerial view of an open mine with large cranes and excavators working on the surface.

New Gold Inc. (NYSEAMERICAN:NGD)

New Gold Inc. (NYSEAMERICAN:NGD) surged by 18.81 percent on Wednesday to close at $3.98 apiece after reporting a strong earnings performance in the first quarter of the year.

In its earnings statement, New Gold Inc. (NYSEAMERICAN:NGD) said net loss narrowed by 61.6 percent to $16.7 million from $43.5 million in the same period a year earlier, as revenues rose by 8.8 percent to $209.1 million from $192.1 million year-on-year.

Revenue increased over the prior-year period primarily due to higher metal prices and copper sales volume, partially offset by lower gold sales volume.

Consolidated gold production ended at 52,186 ounces in the first quarter, while copper production was at 13.6 million pounds.

First quarter gold production represented approximately 15 percent of the midpoint of annual consolidated production guidance of 325,000 to 365,000 ounces of gold, slightly ahead of the planned first quarter of 14 percent.

Overall NGD ranks 2nd on our list of the stocks that soared on Wednesday. While we acknowledge the potential of NGD as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than NGD but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

 

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

 

Disclosure: None. This article is originally published at Insider Monkey.