In the latest trading session, 3.55 million New Gold Inc (AMEX:NGD) shares changed hands as the company’s beta touched 1.29. With the company’s most recent per share price at $2.64 changing hands around $0.08 or 3.32% at last look, the market valuation stands at $2.09B. NGD’s last price was a premium, traded about 1.52% off its 52-week high of $2.60. The share price had its 52-week low at $0.86, which suggests the last value was 67.42% up since then. When we look at New Gold Inc’s average trading volume, we note the 10-day average is 7.99 million shares, with the 3-month average coming to 9.03 million.
Analysts gave the New Gold Inc (NGD) stock a consensus recommendation rating of Buy, calculated at a mean rating of 2.10. If we narrow down to specifics, the data shows that 1 out of 8 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 2 recommended NGD as a Hold, 5 felt it is a Buy and 0 rated the stock as Underweight.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
New Gold Inc (AMEX:NGD) trade information
Instantly NGD is in green as seen in intraday trades today. With action 13.52%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 81.16%, with the 5-day performance at 13.52% in the green. However, in the 30-day time frame, New Gold Inc (AMEX:NGD) is 19.14% up. Looking at the short shares, we see there were 5.15 million shares sold at short interest cover period of 0.76 days.
The consensus price target for the stock as assigned by Wall Street analysts is 2, meaning bulls need a downside of -32.0% from its recent market value. According to analyst projections, NGD’s forecast low is 2 with 2.5 as the target high. To hit the forecast high, the stock’s price needs a 5.3% surge from its current level, while the stock would need to tank 24.24% for it to hit the projected low.
New Gold Inc (NGD) estimates and forecasts
Data shows that the New Gold Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 126.07% over the past 6 months, a 100.00% in annual growth rate that is considerably higher than the industry average of 21.20%.
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 113.41%.
NGD Dividends
New Gold Inc is expected to release its next quarterly earnings report in September.
New Gold Inc (AMEX:NGD)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 4.92% of New Gold Inc shares while 65.64% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 69.04%. There are 65.64% institutions holding the New Gold Inc stock share, with VAN ECK ASSOCIATES CORP the top institutional holder. As of 2024-03-31, the company held 10.5839% of the shares, roughly 72.5 million NGD shares worth $123.25 million.
RENAISSANCE TECHNOLOGIES LLC holds the second largest percentage of outstanding shares, with 2.5857% or 17.71 million shares worth $30.11 million as of 2024-03-31.
Among Mutual Funds, the top two as of Jul 31, 2024 were VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF. With 35.54 shares estimated at $93.99 million under it, the former controlled 4.49% of total outstanding shares. On the other hand, VanEck ETF Trust-VanEck Junior Gold Miners ETF held about 3.56% of the shares, roughly 28.16 shares worth around $74.48 million.
