New Gold Inc (AMEX:NGD)’s traded shares stood at 8.65 million during the last session, with the company’s beta value hitting 1.31. At the close of trading, the stock’s price was $2.88, to imply a decrease of -1.37% or -$0.04 in intraday trading. The NGD share’s 52-week high remains $3.25, putting it -12.85% down since that peak but still an impressive 64.24% since price per share fell to its 52-week low of $1.03. The company has a valuation of $2.28B, with an average of 8.53 million shares in intraday trading volume over the past 10 days and average of 9.23 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for New Gold Inc (NGD), translating to a mean rating of 2.10. Of 8 analyst(s) looking at the stock, 1 analyst(s) give NGD a Sell rating. 0 of those analysts rate the stock as Overweight while 2 advise Hold as 5 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at 0.04.
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New Gold Inc (AMEX:NGD) trade information
After registering a -1.37% downside in the last session, New Gold Inc (NGD) has traded red over the past five days. The 5-day price performance for the stock is -4.95%, and -7.40% over 30 days. With these gigs, the year-to-date price performance is 97.26%. Short interest in New Gold Inc (AMEX:NGD) saw shorts transact 11.89 million shares and set a 1.06 days time to cover.
The extremes give us $2 and $3.25 for target low and target high price respectively. As such, NGD has been trading -12.85% off suggested target high and 30.56% from its likely low.
New Gold Inc (NGD) estimates and forecasts
Looking at statistics comparing New Gold Inc share performance against respective industry, we note that the company has outperformed competitors. New Gold Inc (NGD) shares are 58.24% up over the last 6 months, with its year-to-date growth rate higher than industry average at 114.29% against 21.10%. Revenue is forecast to grow 33.30% this quarter before jumping 900.00% for the next one. The rating firms project that company’s revenue will grow 23.60% compared to the previous financial year.
Revenue forecast for the current quarter as set by 1 analysts is 254.32M. Meanwhile, for the current quarter, a total of 1 analyst(s) estimate revenue growth to 336.36M.Earnings reports from the last fiscal year show that sales brought in 201.3M and 199.2M respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 26.30% before jumping 68.90% in the following quarter.
NGD Dividends
New Gold Inc has its next earnings report out on 2024-Oct-29. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too.
New Gold Inc (AMEX:NGD)’s Major holders
New Gold Inc insiders hold 4.92% of total outstanding shares, with institutional holders owning 61.37% of the shares at 64.55% float percentage. In total, 61.37% institutions holds shares in the company, led by VAN ECK ASSOCIATES CORP. As of 2024-06-30, the company held over 70.34 million shares (or 10.2302% of shares), all amounting to roughly $137.17 million.
The next major institution holding the largest number of shares is CONDIRE MANAGEMENT, LP with 34.88 million shares, or about 5.0732% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $68.02 million.
