New Gold (NGD) shares are soaring 5.07% in pre-market trading on Wednesday following the release of its better-than-expected first-quarter results. The gold mining company reported earnings that met analysts' estimates and revenue that surpassed expectations, demonstrating strong operational performance.

According to the earnings report released late Tuesday, New Gold achieved adjusted net earnings of $0.02 per diluted share for the first quarter, matching the same figure from a year earlier. While this met analysts' expectations, the company's revenue performance was particularly impressive. New Gold reported revenue of $209.1 million for the quarter ended March 31, representing a significant increase from $192.1 million in the same period last year. This figure notably exceeded the $170.9 million forecast by analysts surveyed by FactSet.

The market's positive reaction to New Gold's financial results underscores investor confidence in the company's operational efficiency and growth prospects. As gold prices remain strong, New Gold's ability to surpass revenue expectations while maintaining steady earnings could indicate improved production levels or cost management, factors that are likely driving the stock's upward movement today.