In today’s recent session, 2.25 million shares of the New Gold Inc (AMEX:NGD) have been traded, and its beta is 1.34. Most recently the company’s share price was $3.01, and it changed around $0.0 or 0.00% from the last close, which brings the market valuation of the company to $2.38B. NGD at last check was trading at a discount to its 52-week high of $3.25, offering almost -7.97% off that amount. The share price’s 52-week low was $1.09, which indicates that the recent value has risen by an impressive 63.79% since then. We note from New Gold Inc’s average daily trading volume that its 10-day average is 16.14 million shares, with the 3-month average coming to 9.80 million.
New Gold Inc stock received a consensus recommendation rating of Overweight, based on a mean score of 2.10. If we narrow it down even further, the data shows that 1 out of 10 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 2 recommended NGD as a Hold, whereas 2 deemed it a Buy, and 1 rated it as Underweight. New Gold Inc is expected to report earnings per share of 0.06 for the current quarter.
New Gold Inc (AMEX:NGD) trade information
The performance over the last five days has remained in the red territory. The rise to weekly highs of 3.15 on recent trading dayincreased the stock’s daily price by 4.44%. The company’s shares are currently up 21.37% year-to-date, but still down -3.22% over the last five days. On the other hand, New Gold Inc (AMEX:NGD) is 14.45% up in the 30-day period. We can see from the shorts that 7.98 million shares have been sold at a short interest cover period of 0.9 day(s).
The consensus price target as assigned by Wall Street analysts is $3.25, which translates to bulls needing to increase their stock price by 7.38% from its current value. Analyst projections state that NGD is forecast to be at a low of $3.25 and a high of $3.25.
New Gold Inc (NGD) estimates and forecasts
The year-over-year growth rate is expected to be 17.26%, up from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of 262.27M in revenue for the current quarter. 1 analysts expect New Gold Inc to make 286.16M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 199.2M and 192.1M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 31.66%. Forecasts for the next quarter put sales growth at 48.96%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 46.46%. New Gold Inc earnings are expected to increase by 169.50% in 2025, but the outlook is positive 99.81% per year for the next five years.
NGD Dividends
New Gold Inc’s next quarterly earnings report is expected to be released in March.
New Gold Inc (AMEX:NGD)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 3.97% of New Gold Inc shares, and 61.80% of them are in the hands of institutional investors. The stock currently has a share float of 64.35%. New Gold Inc stock is held by 327.0 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.
VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF were the top two Mutual Funds as of Nov 30, 2024. The former held 34.88 shares worth $105.31 million, making up 4.41% of all outstanding shares. On the other hand, VanEck ETF Trust-VanEck Junior Gold Miners ETF held roughly 29.62 shares worth around $89.43 million, which represents about 3.74% of the total shares outstanding.
