In the latest trading session, 3.87 million New Gold Inc (AMEX:NGD) shares changed hands as the company’s beta touched 1.02. With the company’s most recent per share price at $3.36 changing hands around $0.0 or 0.00% at last look, the market valuation stands at $2.66B. NGD’s current price is a discount, trading about -0.6% off its 52-week high of $3.38. The share price had its 52-week low at $1.52, which suggests the last value was 54.76% up since then. When we look at New Gold Inc’s average trading volume, we note the 10-day average is 22.94 million shares, with the 3-month average coming to 13.97 million.
Analysts gave the New Gold Inc (NGD) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.78. 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 0.01.
New Gold Inc (AMEX:NGD) trade information
The company’s shares are showing year-to-date upside of 35.48%, with the 5-day performance at 12.00% in the green. However, in the 30-day time frame, New Gold Inc (AMEX:NGD) is 15.46% up. Looking at the short shares, we see there were 11.1 million shares sold at short interest cover period of 0.78 days.
The consensus price target for the stock as assigned by Wall Street analysts is 2, meaning bulls need a downside of -68.0% from its recent market value. According to analyst projections, NGD’s forecast low is 2 with 3.25 as the target high. To hit the forecast high, the stock’s price needs a 3.27% surge from its current level, while the stock would need to tank 40.48% for it to hit the projected low.
New Gold Inc (NGD) estimates and forecasts
Year-over-year growth is forecast to reach 22.42% up from the last financial year.
Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of 260.56M. 1 analysts are of the opinion that New Gold Inc’s revenue for the current quarter will be 263.46M. The company’s revenue for the corresponding quarters a year ago was 192.1M and 218.2M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 35.64%. The estimates for the next quarter sales put growth at 20.74%.
New Gold Inc (AMEX:NGD)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 3.75% of New Gold Inc shares while 62.43% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 64.87%. There are 62.43% 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 9.5238% 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 4.7229% or 34.88 million shares worth $68.02 million as of 2024-06-30.
Among Mutual Funds, the top two as of Jan 31, 2025 were VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF. With 31.71 shares estimated at $106.85 million under it, the former controlled 4.01% of total outstanding shares. On the other hand, VanEck ETF Trust-VanEck Junior Gold Miners ETF held about 3.49% of the shares, roughly 27.58 shares worth around $92.94 million.
