Sifting through countless of stocks in the Metals & Mining industry can be tedious, and sometimes two stocks are just too similar to judge which is the better investment. If you’re on the fence about investing in Steel Dynamics, Inc. or New Gold Inc. because you’re not sure how they measure up, it’s important to compare them on a few factors before making your decision.

Read on to learn how Steel Dynamics, Inc. and New Gold Inc. compare based on key financial metrics to determine which better meets your investment needs.

About Steel Dynamics, Inc. and New Gold Inc.

Steel Dynamics, Inc., together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through four segments: Steel Operations, Metals Recycling Operations, Steel Fabrication Operations, and Aluminum Operations. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products. This segment also engages in turning, polishing, straightening, chamfering, precision saw-cutting, and heat treating of bar products. Its products are used in construction, automotive, manufacturing, transportation, heavy and agriculture equipment, energy, and pipe and tube markets. The Metals Recycling Operations segment is involved in the ferrous and nonferrous scrap metal processing, transportation, marketing, brokerage, and scrap management services. Its ferrous products include heavy melting steel, busheling, bundled scrap, shredded scrap, steel turnings, and cast-iron products; and nonferrous products comprise aluminum, brass, copper, stainless steel, and other nonferrous metals. The Steel Fabrication Operations segment produces steel non-residential building components, such as steel joists, girders, and steel deck products for non-residential steel fabricators, metal building companies, general construction contractors, developers, owners, brokers, and governmental entities. The Aluminum Operations segment offers recycled aluminum flat rolled products. The company also exports its products. Steel Dynamics, Inc. was incorporated in 1993 and is headquartered in Fort Wayne, Indiana.

New Gold Inc., an intermediate gold mining company, engages in the development and operation of mineral properties in Canada. It primarily explores for gold, silver, and copper deposits. The company’s principal operating properties include 100% interest in the Rainy River mine located in Northwestern Ontario, Canada; and New Afton project situated in South-Central British Columbia. New Gold Inc. is headquartered in Toronto, Canada.

Latest Metals & Mining and Steel Dynamics, Inc., New Gold Inc. Stock News

As of February 26, 2026, Steel Dynamics, Inc. had a $28.1 billion market capitalization, compared to the Metals & Mining median of $2.3 million. Steel Dynamics, Inc.’s stock is up 13.1% in 2026, down 0.5% in the previous five trading days and up 44.23% in the past year.

Currently, Steel Dynamics, Inc.’s price-earnings ratio is 25.6. Steel Dynamics, Inc.’s trailing 12-month revenue is $17.6 billion with a 6.5% net profit margin. Year-over-year quarterly sales growth most recently was 11.2%. Analysts expect adjusted earnings to reach $13.800 per share for the current fiscal year. Steel Dynamics, Inc. currently has a 1.0% dividend yield.

As of February 26, 2026, New Gold Inc. had a $10.4 billion market cap, putting it in the 78th percentile of all stocks. New Gold Inc.’s stock is up 50.5% in 2026, up 7% in the previous five trading days and up 383.09% in the past year.

Currently, New Gold Inc.’s price-earnings ratio is 41.7. New Gold Inc.’s trailing 12-month revenue is $1.2 billion with a 20.1% net profit margin. Year-over-year quarterly sales growth most recently was 83.5%. Analysts expect adjusted earnings to reach $0.640 per share for the current fiscal year. New Gold Inc. does not currently pay a dividend.

How We Compare Steel Dynamics, Inc. and New Gold Inc. Stock Grades

Stock evaluation requires access to huge amounts of data and the knowledge and time to sift through it all, make sense of financial ratios, read income statements and analyze recent stock movements. AAII created A+ Investor, a robust data suite that condenses data research in an actionable and customizable way suitable for investors of all knowledge levels, to help investors streamline and work through such data.

AAII’s proprietary stock grades come with A+ Investor. These offer intuitive A‐F grades for each of five key investing factors: value, growth, momentum, earnings estimate revisions and quality. Here, we’ll take a closer look at Steel Dynamics, Inc. and New Gold Inc.’s stock grades to see how they measure up against one another.

Learn more about A+ Investor here!

Sign Up to Receive a Free Special Report Showing How A+ Grades Can Help You Make Smarter Investment Decisions

Steel Dynamics, Inc. and New Gold Inc. Growth Grades

Company	Ticker	Growth
Steel Dynamics, Inc.	STLD	C
New Gold Inc.	NGD	A

The foundation of growth investing is seeking out stocks of companies exhibiting strong, consistent and prolonged growth that is expected to continue into the future.

In order to compute the growth score and assign it a letter grade, the percentile ranks for each of three components‐consistency of annual sales growth, five-year sales growth rankings adjusted for extreme levels, and consistency of positive annual cash from operations‐must be determined. These three rank figures are added together, and the sum is ranked against the entire stock universe to arrive at a company’s Growth Score to create an equal distribution of grades.

The companies in the bottom 20% of the stock universe receive Growth Grades of F, considered to be very weak, while those in the top 20% receive A grades, which are considered very strong.

Steel Dynamics, Inc. has a Growth Score of 50, which is Average. New Gold Inc. has a Growth Score of 96, which is Very Strong.

The Growth Grade Winner: New Gold Inc.

As you can clearly see from the Growth Grade breakdown above, New Gold Inc. has a more attractive growth grade than Steel Dynamics, Inc.. For investors who focus solely on how a company is growing relative to other companies in the same industry, New Gold Inc. could be a good stock to add to their portfolio. However, it’s important for investors to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

Steel Dynamics, Inc. and New Gold Inc.’s Quality Grades

Company	Ticker	Quality
Steel Dynamics, Inc.	STLD	B
New Gold Inc.	NGD	B

Like the Value Grade, AAII’s A+ Investor Quality Grade comes from the percentile rank of key metrics. Specifically, the Quality Score is the percentile rank of the average of the percentile ranks of return on assets (ROA), return on invested capital (ROIC), gross profit relative to assets, buyback yield, change in total liabilities to assets, accruals, Z double prime bankruptcy risk (Z) score and the F-Score.

The score is variable, meaning it can consider all eight measures or, should any of the eight measures not be valid, the remaining measures that are valid. To be assigned a Quality Score, stocks must have a valid (non-null) measure and corresponding ranking for at least four of the eight quality measures.

The Quality Score is used to assess the underlying “quality” of a particular stock. A higher-quality stock possesses traits associated with upside potential and reduced downside risk. Backtesting of the Quality Grade shows that stocks with higher grades, on average, outperformed stocks with lower grades over the period of 1998 through 2019.

Stocks receive better grades (higher scores) for having higher scores for the quality subcomponents and worse grades (lower scores) for lower scores for the subcomponents.

Steel Dynamics, Inc. has a Quality Score of 72, which is Strong. New Gold Inc. has a Quality Score of 78, which is Strong.

The Quality Grade Winner: It’s a Tie!

Looking at the Quality Grade breakdown above, both Steel Dynamics, Inc. and New Gold Inc. have a grade of B. For investors who focus solely on a company’s overall quality, you will need to conduct further research into both companies to see if they are a good fit for your portfolio. As a good rule of thumb, you should always analyze multiple factors based on a wide range of metrics before choosing a company to invest in.

Steel Dynamics, Inc. and New Gold Inc.’s Estimate Revisions Grades

Company	Ticker	Earnings Estimate
Steel Dynamics, Inc.	STLD	A
New Gold Inc.	NGD	C

Earnings estimate revisions scores consider the magnitude of a company’s earnings surprise in its last two reported fiscal quarters. Often, positive surprises beget further positive surprises‐or at least continued sales growth (the exact opposite is generally true, too).

Estimate revisions offer an indication of what analysts are thinking about the short-term prospects of a firm. Estimate revisions are based on the statistical significance of a firm’s last two quarterly earnings surprises and the percentage change in its consensus estimate for the current fiscal year over the past month and past three months.

Steel Dynamics, Inc. has a Earnings Estimate Score of 83, which is Very Positive. New Gold Inc. has a Earnings Estimate Score of 55, which is Neutral.

The Earnings Estimate Revisions Grade Winner: Steel Dynamics, Inc.

As you can clearly see from the Earnings Estimate Revisions Grade breakdown above, Steel Dynamics, Inc. has a better Earnings Estimate Revisions Grade than New Gold Inc.. For those who are specifically looking for companies with better short-term prospects when compared to other companies in the same industry, Steel Dynamics, Inc. could be a good stock to invest in. However, it’s important to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

Other Steel Dynamics, Inc. and New Gold Inc. Grades

In addition to Estimate Revisions, Quality and Growth, A+ Investor also provides grades for Value and Momentum.

Momentum grades help uncover stocks experiencing anomalously high rates of return; research finds that stocks with high relative levels of momentum tend to outperform, whereas those with low levels of momentum tend to continue underperforming.

Successful stock investing involves buying low and selling high, so stock valuation is an important consideration for stock selection. Buying stocks that are going to go up typically means buying stocks that are undervalued in the first place, although momentum investors may argue that point.

These 2 key factors, when combined with the above, provide a holistic view into a particular stock. Further, by joining A+ Investor you can see whether Steel Dynamics, Inc. and New Gold Inc. pass any of our 60+ stock screens that have outperformed the market since their creation.

So, Which Is the Better Investment, Steel Dynamics, Inc. or New Gold Inc. Stock?

Overall, Steel Dynamics, Inc. stock has a Growth Score of 50, Estimate Revisions Score of 83 and Quality Score of 72.

New Gold Inc. stock has a Growth Score of 96, Estimate Revisions Score of 55 and Quality Score of 78.

Comparing Steel Dynamics, Inc. and New Gold Inc.’s grades, scores and metrics can act as a solid basis to determine whether they may be a good investment or not. You’ll also want to look at your portfolio’s asset allocation as well as your risk tolerance and financial goals to see if either of these stocks would make a good fit for you. AAII can help you figure out which investments align with your individual needs and preferences.

Investors are encouraged to do their own due diligence and research. In this way, individuals can effectively become managers of their own assets‐without having to rely on others for financial independence. You can count on AAII for timeless articles on financial planning and stock-picking, unbiased research and actionable analysis.

A+ Investor adds to our qualitative teaching with a powerful data suite to help you whittle down investment choices to find stocks, exchange-traded funds (ETFs) or mutual funds that meet your needs.

AAII Disclaimer

We make no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown, because past, hypothetical or simulated performance is not necessarily indicative of future results. Before making an investment decision, you should consider your circumstances and whether the information on our content is applicable to your situation. This information was prepared in good faith, and we accept no liability for any errors or omissions. The full disclaimer can be read here.