New Gold Inc (AMEX:NGD) has a beta value of 1.32 and has seen 2.44 million shares traded in the recent trading session. The company, currently valued at $2.19B, closed the recent trade at $2.77 per share which meant it gained $0.06 on the day or 2.03% during that session. The NGD stock price is -17.33% off its 52-week high price of $3.25 and 60.65% above the 52-week low of $1.09. If we look at the company’s 10-day average daily trading volume, we find that it stood at 8.96 million shares traded. The 3-month trading volume is 9.78 million shares.
The consensus among analysts is that New Gold Inc (NGD) is Buy stock at the moment, with a recommendation rating of 2.10. 1 analysts rate the stock as a Sell, while 0 rate it as Overweight. 2 out of 8 have rated it as a Hold, with 5 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is 0.07.
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New Gold Inc (AMEX:NGD) trade information
Sporting 2.03% in the green today, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the NGD stock price touched $2.77 or saw a rise of 4.81%. Year-to-date, New Gold Inc shares have moved 89.38%, while the 5-day performance has seen it change -0.54%. Over the past 30 days, the shares of New Gold Inc (AMEX:NGD) have changed -4.98%. Short interest in the company has seen 9.29 million shares shorted with days to cover at 0.87.
Wall Street analysts have a consensus price target for the stock at $2, which means that the shares’ value could drop -38.5% from the levels at last check today. The projected low price target is $2.0 while the price target rests at a high of $3.25. In that case, then, we find that the latest price level in today’s session is -17.33% off the targeted high while a plunge would see the stock lose 27.8% from the levels at last check today.
New Gold Inc (NGD) estimates and forecasts
Figures show that New Gold Inc shares have outperformed across the wider relevant industry. The company’s shares have gained 25.68% over the past 6 months, with this year growth rate of 157.14%, compared to 19.80% for the industry. Revenue growth from the last financial year stood is estimated to be 20.94%.
1 analysts offering their estimates for the company have set an average revenue estimate of 288.04M for the current quarter.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 46.46% over the past 5 years.
NGD Dividends
New Gold Inc is expected to release its next earnings report in December this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
New Gold Inc (AMEX:NGD)’s Major holders
Insiders own 3.88% of the company shares, while shares held by institutions stand at 63.23% with a share float percentage of 65.78%. Investors are also buoyed by the number of investors in a company, with New Gold Inc having a total of 317.0 institutions that hold shares in the company. The top two institutional holders are VAN ECK ASSOCIATES CORP with over 70.34 million shares worth more than $137.17 million. As of 2024-06-30, VAN ECK ASSOCIATES CORP held 10.2302% of shares outstanding.
The other major institutional holder is CONDIRE MANAGEMENT, LP, with the holding of over 34.88 million shares as of 2024-06-30. The firm’s total holdings are worth over $68.02 million and represent 5.0732% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF. As of Sep 30, 2024, the former fund manager holds about 4.58% shares in the company for having 36.18 shares of worth $99.69 million while later fund manager owns 31.3 shares of worth $86.22 million as of Sep 30, 2024, which makes it owner of about 3.96% of company’s outstanding stock.
