In the last trading session, 1.24 million New Gold Inc (AMEX:NGD) shares changed hands as the company’s beta touched 1.30. With the company’s per share price at $2.93 changed hands at -$0.03 or -1.13% during last session, the market valuation stood at $2.31B. NGD’s last price was a discount, traded about -10.92% off its 52-week high of $3.25. The share price had its 52-week low at $0.86, which suggests the last value was 70.65% up since then. When we look at New Gold Inc’s average trading volume, we note the 10-day average is 11.82 million shares, with the 3-month average coming to 9.15 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. New Gold Inc’s EPS for the current quarter is expected to be 0.04.
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New Gold Inc (AMEX:NGD) trade information
Instantly NGD was in red as seen at the end of in last trading. With action -6.80%, the performance over the past five days has been red. The company’s shares are showing year-to-date upside of 100.45%, with the 5-day performance at -6.80% in the red. However, in the 30-day time frame, New Gold Inc (AMEX:NGD) is 25.07% up. Looking at the short shares, we see there were 7.4 million shares sold at short interest cover period of 1.15 days.
The consensus price target for the stock as assigned by Wall Street analysts is 2, meaning bulls need a downside of -46.5% from its current market value. According to analyst projections, NGD’s forecast low is 2 with 3.25 as the target high. To hit the forecast high, the stock’s price needs a -10.92% plunge from its current level, while the stock would need to tank 31.74% 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 62.59% over the past 6 months, a 114.29% in annual growth rate that is considerably higher than the industry average of 21.40%. Year-over-year growth is forecast to reach 24.30% 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 277.58M. 1 analysts are of the opinion that New Gold Inc’s revenue for the current quarter will be 330.04M. The company’s revenue for the corresponding quarters a year ago was 201.3M and 199.2M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 37.90%. The estimates for the next quarter sales put growth at 65.70%.
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 143.92%.
NGD Dividends
New Gold Inc is expected to release its next quarterly earnings report on 2024-Oct-23.
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 61.76% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 64.95%. There are 61.76% institutions holding the New Gold Inc stock share, with VAN ECK ASSOCIATES CORP the top institutional holder. As of 2024-06-30, the company held 10.2302% of the shares, roughly 70.34 million NGD shares worth $137.17 million.
CONDIRE MANAGEMENT, LP holds the second largest percentage of outstanding shares, with 5.0732% or 34.88 million shares worth $68.02 million as of 2024-06-30.
