In today’s recent session, 6.03 million shares of the New Gold Inc (AMEX:NGD) have been traded, and its beta is 1.31. Most recently the company’s share price was $2.76, and it changed around -$0.15 or -5.15% from the last close, which brings the market valuation of the company to $2.18B. NGD at last check was trading at a discount to its 52-week high of $3.25, offering almost -17.75% off that amount. The share price’s 52-week low was $1.09, which indicates that the recent value has risen by an impressive 60.51% since then. We note from New Gold Inc’s average daily trading volume that its 10-day average is 8.69 million shares, with the 3-month average coming to 9.18 million.
New Gold Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.10. If we narrow it down even further, the data shows that 2 out of 13 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 6 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 0.08 for the current quarter.
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New Gold Inc (AMEX:NGD) trade information
Instantly NGD has been showing red trend so far today with a performance of -5.15% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 3.00 on recent trading dayincreased the stock’s daily price by 8.0%. The company’s shares are currently up 89.04% year-to-date, but still down -5.48% over the last five days. On the other hand, New Gold Inc (AMEX:NGD) is -6.76% down in the 30-day period. We can see from the shorts that 5.9 million shares have been sold at a short interest cover period of 0.59 day(s).
The consensus price target as assigned by Wall Street analysts is $2, which translates to bulls needing to decrease their stock price by -38.0% from its current value. Analyst projections state that NGD is forecast to be at a low of $2 and a high of $3.25.
New Gold Inc (NGD) estimates and forecasts
New Gold Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 46.03 percent over the past six months and at a 114.29% annual growth rate that is well above the industry average of 21.30%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 900.00% in revenue this quarter, and will report an increase of 300.00% in the next quarter. The year-over-year growth rate is expected to be 23.60%, up from the previous year.
Consensus estimates provided by 1 financial analysts predict the company will bring in an average of 336.36M in revenue for the current quarter. Analysts predict that the company’s current quarter sales will jump, forecast at 68.90%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 46.46%.
NGD Dividends
New Gold Inc’s next quarterly earnings report is expected to be released on 2025-Feb-11.
New Gold Inc (AMEX:NGD)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 4.92% of New Gold Inc shares, and 61.83% of them are in the hands of institutional investors. The stock currently has a share float of 65.03%. New Gold Inc stock is held by 299.0 institutions, with VAN ECK ASSOCIATES CORP being the largest institutional investor. By 2024-06-30, it held 10.2302% of the shares, which is about 70.34 million shares worth $137.17 million.
CONDIRE MANAGEMENT, LP, with 5.0732% or 34.88 million shares worth $68.02 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
