During the last session, New Gold Inc. (AMEX:NGD)’s traded shares were 2.62 million, with the beta value of the company hitting 1.86. At the end of the trading day, the stock’s price was $0.81, reflecting an intraday gain of 6.29% or $0.05. The 52-week high for the NGD share is $2.02, that puts it down -149.38 from that peak though still a striking 17.28% gain since the share price plummeted to a 52-week low of $0.67. The company’s market capitalization is $651.86M, and the average intraday trading volume over the past 10 days was 2.56 million shares, and the average trade volume was 4.55 million shares over the past three months.
New Gold Inc. (NGD) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 2.80. NGD has a Sell rating from 0 analyst(s) out of 12 analysts who have looked at this stock. 8 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 3 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.02.
New Gold Inc. (AMEX:NGD) trade information
New Gold Inc. (NGD) registered a 6.29% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 6.29% in intraday trading to $0.81 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is 0.77%, and it has moved by -28.32% in 30 days. Based on these gigs, the overall price performance for the year is -49.06%. The short interest in New Gold Inc. (AMEX:NGD) is 8.12 million shares and it means that shorts have 1.29 day(s) to cover.
The consensus price target of analysts on Wall Street is $1.21, which implies an increase of 33.06% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $0.78 and $2.11 respectively. As a result, NGD is trading at a discount of -160.49% off the target high and 3.7% off the low.
New Gold Inc. (NGD) estimates and forecasts
Statistics show that New Gold Inc. has underperformed its competitors in share price, compared to the industry in which it operates. New Gold Inc. (NGD) shares have gone down -49.38% during the last six months, with a year-to-date growth rate less than the industry average at -116.67% against 6.60. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -150.00% this quarter and then drop -66.70% in the quarter after that. In the rating firms’ projections, revenue will decrease -13.30% compared to the previous financial year.
Revenue for the current quarter is expected to be $136.71 million as predicted by 4 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $174.57 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $198.2 million and $179.8 million respectively. In this case, analysts expect current quarter sales to shrink by -31.00% and then drop by -2.90% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -12.39%. While earnings are projected to return 8.30% in 2022, the next five years will return 8.65% per annum.
New Gold Inc. is due to release its next quarterly earnings between February 16 and February 21. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
New Gold Inc. (AMEX:NGD)’s Major holders
New Gold Inc. insiders own 0.26% of total outstanding shares while institutional holders control 54.62%, with the float percentage being 54.76%. Van Eck Associates Corporation is the largest shareholder of the company, while 245 institutions own stock in it. As of Mar 30, 2022, the company held over 69.32 million shares (or 10.16% of all shares), a total value of $124.77 million in shares.
The next largest institutional holding, with 16.61 million shares, is of Invesco Ltd.’s that is approximately 2.44% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $29.9 million.
Also, the Mutual Funds coming in first place with the largest holdings of New Gold Inc. (NGD) shares are VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF. Data provided on Jun 29, 2022 indicates that VanEck ETF Trust-VanEck Gold Miners ETF owns about 36.1 million shares. This amounts to just over 5.29 percent of the company’s overall shares, with a $38.63 million market value. The same data shows that the other fund manager holds slightly less at 25.85 million, or about 3.79% of the stock, which is worth about $27.66 million.