During the recent session, New Gold Inc (AMEX:NGD)’s traded shares were 1.45 million, with the beta value of the company hitting 1.31. At the last check today, the stock’s price was $2.16, reflecting an intraday gain of 2.12% or $0.04. The 52-week high for the NGD share is $2.46, that puts it down -13.89 from that peak though still a striking 60.19% gain since the share price plummeted to a 52-week low of $0.86. The company’s market capitalization is $1.71B, and the average intraday trading volume over the past 10 days was 8.76 million shares, and the average trade volume was 9.38 million shares over the past three months.
New Gold Inc (NGD) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 2.10. NGD has a Sell rating from 1 analyst(s) out of 8 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 5 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be 0.04.
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New Gold Inc (AMEX:NGD) trade information
New Gold Inc (NGD) registered a 2.12% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 2.12% in intraday trading to $2.16, hitting a weekly high. The stock’s 5-day price performance is -1.14%, and it has moved by -9.79% in 30 days. Based on these gigs, the overall price performance for the year is 106.19%. The short interest in New Gold Inc (AMEX:NGD) is 4.8 million shares and it means that shorts have 0.76 day(s) to cover.
The consensus price target of analysts on Wall Street is $2, which implies a decrease of -8.0% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $2 and $2.5 respectively. As a result, NGD is trading at a discount of -15.74% off the target high and 7.41% off the low.
New Gold Inc (NGD) estimates and forecasts
Statistics show that New Gold Inc has outperformed its competitors in share price, compared to the industry in which it operates. New Gold Inc (NGD) shares have gone up 74.60% during the last six months, with a year-to-date growth rate more than the industry average at 100.00% against 21.50. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 33.30% this quarter and then jump 900.00% in the quarter after that. In the rating firms’ projections, revenue will increase 22.50% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 265.29M as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to 330.05M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 201.3M and 199.2M respectively. In this case, analysts expect current quarter sales to grow by 31.80% and then jump by 65.70% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 46.46%. While earnings are projected to return 108.98% in 2024.
NGD Dividends
New Gold Inc is due to release its next quarterly earnings 2024-Oct-23. 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 4.92% of total outstanding shares while institutional holders control 53.37%, with the float percentage being 56.14%. VAN ECK ASSOCIATES CORP is the largest shareholder of the company, while 275.0 institutions own stock in it. As of 2024-03-31, the company held over 72.5 million shares (or 10.5839% of all shares), a total value of $123.25 million in shares.
The next largest institutional holding, with 17.71 million shares, is of RENAISSANCE TECHNOLOGIES LLC’s that is approximately 2.5857% of outstanding shares. At the market price on 2024-03-31, these shares were valued at $30.11 million.
