In the last trading session, 3.85 million New Gold Inc (AMEX:NGD) shares changed hands as the company’s beta touched 1.53. With the company’s per share price at $1.59 changed hands at -$0.04 or -2.45% during last session, the market valuation stood at $1.09B. NGD’s last price was a discount, traded about -10.69% off its 52-week high of $1.76. The share price had its 52-week low at $0.86, which suggests the last value was 45.91% up since then. When we look at New Gold Inc’s average trading volume, we note the 10-day average is 10.78 million shares, with the 3-month average coming to 5.27 million.
New Gold Inc (AMEX:NGD) trade information
Instantly NGD was in red as seen at the end of in last trading. With action -6.47%, the performance over the past five days has been red. The drop to weekly highs of 1.7400 subtracted -2.45% to the stock’s daily price. The company’s shares are showing year-to-date upside of 8.90%, with the 5-day performance at -6.47% in the red. However, in the 30-day time frame, New Gold Inc (AMEX:NGD) is 44.55% up. Looking at the short shares, we see there were 4.71 million shares sold at short interest cover period of 0.88 days.
New Gold Inc (NGD) estimates and forecasts
Data shows that the New Gold Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 59.00% over the past 6 months, a -14.29% in annual growth rate that is considerably lower than the industry average of -0.30%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for New Gold Inc will fall -66.70%, while the growth in revenue is estimated to hit -50.00% for the next quarter. Year-over-year growth is forecast to reach 8.40% up from the last financial year.
Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $189.61 million. 1 analysts are of the opinion that New Gold Inc’s revenue for the quarter ending Jun 2024 will be $199.25 million. The company’s revenue for the corresponding quarters a year ago was $201.6 million and $182.34 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -5.90%. The estimates for the next quarter sales put growth at 9.30%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 46.46%. The 2024 estimates are for New Gold Inc earnings to increase by 30.09%, but the outlook for the next 5-year period is at 5.00% per year.
NGD Dividends
New Gold Inc is expected to release its next quarterly earnings report between April 24 and April 29.
New Gold Inc (AMEX:NGD)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 5.79% of New Gold Inc shares while 50.85% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 53.97%. There are 50.85% institutions holding the New Gold Inc stock share, with Van Eck Associates Corporation the top institutional holder. As of Jun 29, 2023, the company held 9.51% of the shares, roughly 65.1 million NGD shares worth $70.3 million.
Connor Clark & Lunn Investment Management Ltd holds the second largest percentage of outstanding shares, with 2.34% or 16.04 million shares worth $17.32 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Sep 29, 2023 were VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF. With 36.42 million shares estimated at $33.14 million under it, the former controlled 5.32% of total outstanding shares. On the other hand, VanEck ETF Trust-VanEck Junior Gold Miners ETF held about 3.40% of the shares, roughly 23.3 million shares worth around $21.2 million.
