Let’s Talk About Wall Street’s Projection For New Gold Inc (AMEX: NGD).


In the last trading session, 8.01 million shares of the New Gold Inc (AMEX:NGD) were traded, and its beta was 1.54. Most recently the company’s share price was $1.70, and it changed around $0.01 or 0.59% from the last close, which brings the market valuation of the company to $1.17B. NGD currently trades at a discount to its 52-week high of $1.76, offering almost -3.53% off that amount. The share price’s 52-week low was $0.86, which indicates that the current value has risen by an impressive 49.41% since then. We note from New Gold Inc’s average daily trading volume that its 10-day average is 7.92 million shares, with the 3-month average coming to 5.30 million.

New Gold Inc stock received a consensus recommendation rating of Buy, based on a mean score of 2.73. If we narrow it down even further, the data shows that 2 out of 8 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 3 recommended NGD as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. New Gold Inc is expected to report earnings per share of $0.01 for the current quarter.

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New Gold Inc (AMEX:NGD) trade information

Instantly NGD has showed a green trend with a performance of 0.59% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 16.44% year-to-date, but still up 4.29% over the last five days. On the other hand, New Gold Inc (AMEX:NGD) is 42.86% up in the 30-day period. We can see from the shorts that 3.87 million shares have been sold at a short interest cover period of 0.47 day(s).

New Gold Inc (NGD) estimates and forecasts

New Gold Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 83.66 percent over the past six months and at a -14.29% annual growth rate that is well below the industry average of 3.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -66.70% in revenue this quarter, and will report a decrease of -50.00% in the next quarter. The year-over-year growth rate is expected to be 8.40%, up from the previous year.

Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $189.61 million in revenue for the current quarter. 1 analysts expect New Gold Inc to make $199.25 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $201.6 million and $182.34 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -5.90%. Forecasts for the next quarter put sales growth at 9.30%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 46.46%. New Gold Inc earnings are expected to increase by 44.38% in 2024, but the outlook is positive 5.00% per year for the next five years.

NGD Dividends

New Gold Inc’s next quarterly earnings report is expected to be released around April 24 and April 29.

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

Upon looking at major shareholders, it appears that insiders hold 5.79% of New Gold Inc shares, and 50.85% of them are in the hands of institutional investors. The stock currently has a share float of 53.97%. New Gold Inc stock is held by 238 institutions, with Van Eck Associates Corporation being the largest institutional investor. By Jun 29, 2023, it held 9.51% of the shares, which is about 65.1 million shares worth $70.3 million.

Connor Clark & Lunn Investment Management Ltd, with 2.34% or 16.04 million shares worth $17.32 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF were the top two Mutual Funds as of Sep 29, 2023. The former held 36.42 million shares worth $33.14 million, making up 5.32% of all outstanding shares. On the other hand, VanEck ETF Trust-VanEck Junior Gold Miners ETF held roughly 23.3 million shares worth around $21.2 million, which represents about 3.40% of the total shares outstanding.