How To Know If New Gold Inc (AMEX:NGD) Is Expensive At $1.24.

In last trading session, New Gold Inc (AMEX:NGD) saw 2.51 million shares changing hands with its beta currently measuring 1.52. Company’s recent per share price level of $1.24 trading at -$0.02 or -1.59% at ring of the bell on the day assigns it a market valuation of $848.78M. That closing price of NGD’s stock is at a discount of -29.84% from its 52-week high price of $1.61 and is indicating a premium of 33.87% from its 52-week low price of $0.82. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 3.28 million shares which gives us an average trading volume of 3.57 million if we extend that period to 3-months.

New Gold Inc (AMEX:NGD) trade information

Upright in the red during last session for losing -1.59%, in the last five days NGD remained trading in the red while hitting it’s week-highest on Wednesday, 02/07/24 when the stock touched $1.24 price level, adding 5.34% to its value on the day. New Gold Inc’s shares saw a change of -15.07% in year-to-date performance and have moved -4.62% in past 5-day. New Gold Inc (AMEX:NGD) showed a performance of -8.15% in past 30-days. Number of shares sold short was 3.54 million shares which calculate 0.8 days to cover the short interests.

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New Gold Inc (NGD) estimates and forecasts

Statistics highlight that New Gold Inc is scoring comparatively higher than the scores of other players of the relevant industry. The company added 18.10% of value to its shares in past 6 months, showing an annual growth rate of 350.00% while that of industry is 7.30. Apart from that, the company came raising its revenue forecast for fiscal year 2024. This year revenue growth is estimated to rise 29.60% from the last financial year’s standing.

3 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $191.07 million for the same. And 1 analysts are in estimates of company making revenue of $206.72 million in the next quarter that will end on Mar 2024. Company posted $162.8 million and $201.6 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 17.40% while estimating it to be 2.50% for the next quarter.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 12.51% during past 5 years. In 2024, company’s earnings growth rate is likely to be around 346.88% while estimates for its earnings growth in next 5 years are of 5.00%.

NGD Dividends

New Gold Inc is more likely to be releasing its next quarterly report on February 13 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

New Gold Inc (AMEX:NGD)’s Major holders

Insiders are in possession of 0.37% of company’s total shares while institution are holding 50.01 percent of that, with stock having share float percentage of 50.20%. Investors also watch the number of corporate investors in a company very closely, which is 50.01% institutions for New Gold Inc that are currently holding shares of the company. Van Eck Associates Corporation is the top institutional holder at NGD for having 65.1 million shares of worth $70.3 million. And as of Jun 29, 2023, it was holding 9.51% of the company’s outstanding shares.

The second largest institutional holder is Connor Clark & Lunn Investment Management Ltd, which was holding about 16.04 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 2.34% of outstanding shares, having a total worth of $17.32 million.

On the other hand, VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF are the top two Mutual Funds which own company’s shares. As of Sep 29, 2023, the former fund manager was holding 36.42 million shares of worth $33.14 million or 5.32% of the total outstanding shares. The later fund manager was in possession of 23.3 million shares on Sep 29, 2023, making its stake of worth around $21.2 million in the company or a holder of 3.40% of company’s stock.

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