In the latest trading session, 2.34 million New Gold Inc (AMEX:NGD) shares changed hands as the company’s beta touched 1.34. With the company’s most recent per share price at $3.08 changing hands around $0.05 or 1.78% at last look, the market valuation stands at $2.44B. NGD’s current price is a discount, trading about -5.52% off its 52-week high of $3.25. The share price had its 52-week low at $1.09, which suggests the last value was 64.61% up since then. When we look at New Gold Inc’s average trading volume, we note the 10-day average is 14.01 million shares, with the 3-month average coming to 9.57 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 0.06.
New Gold Inc (AMEX:NGD) trade information
Instantly NGD is in green as seen in intraday trades today. With action 6.71%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 24.35%, with the 5-day performance at 6.71% in the green. However, in the 30-day time frame, New Gold Inc (AMEX:NGD) is 19.07% up. Looking at the short shares, we see there were 6.91 million shares sold at short interest cover period of 0.9 days.
The consensus price target for the stock as assigned by Wall Street analysts is 3.25, meaning bulls need an upside of 5.23% from its recent market value. According to analyst projections, NGD’s forecast low is 3.25 with 3.25 as the target high. To hit the forecast high, the stock’s price needs a -5.52% plunge from its current level, while the stock would need to soar -5.52% 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 46.16% over the past 6 months, a 171.43% in annual growth rate that is considerably higher than the industry average of 17.90%. Year-over-year growth is forecast to reach 18.42% up from the last financial year.
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of 265.9M. 1 analysts are of the opinion that New Gold Inc’s revenue for the current quarter will be 286.16M. The company’s revenue for the corresponding quarters a year ago was 199.2M and 192.1M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 33.49%. The estimates for the next quarter sales put growth at 48.96%.
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 2025 estimates are for New Gold Inc earnings to increase by 170.87%.
NGD Dividends
New Gold Inc is expected to release its next quarterly earnings report in March.
New Gold Inc (AMEX:NGD)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 3.87% of New Gold Inc shares while 61.45% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 63.93%. There are 61.45% 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.
Among Mutual Funds, the top two as of Nov 30, 2024 were VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF. With 34.88 shares estimated at $107.42 million under it, the former controlled 4.41% of total outstanding shares. On the other hand, VanEck ETF Trust-VanEck Junior Gold Miners ETF held about 3.74% of the shares, roughly 29.62 shares worth around $91.22 million.
