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Could New Gold Inc. (AMEX: NGD) Regain All Of Its Losses Given A -21.85% Dip From High?

During the last session, New Gold Inc. (AMEX:NGD)’s traded shares were 2.98 million, with the beta value of the company hitting 1.54. At the end of the…

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This article was originally published by The Marketing Sentinal

During the last session, New Gold Inc. (AMEX:NGD)’s traded shares were 2.98 million, with the beta value of the company hitting 1.54. At the end of the trading day, the stock’s price was $1.17, reflecting an intraday loss of -3.31% or -$0.04. The 52-week high for the NGD share is $1.48, that puts it down -26.5 from that peak though still a striking 47.86% gain since the share price plummeted to a 52-week low of $0.61. The company’s market capitalization is $805.69M, and the average intraday trading volume over the past 10 days was 2.69 million shares, and the average trade volume was 4.13 million shares over the past three months.

New Gold Inc. (NGD) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 2.80. NGD has a Sell rating from 1 analyst(s) out of 11 analysts who have looked at this stock. 5 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 4 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.01.

New Gold Inc. (AMEX:NGD) trade information

New Gold Inc. (NGD) registered a -3.31% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -3.31% in intraday trading to $1.17 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is -9.30%, and it has moved by -9.30% in 30 days. Based on these gigs, the overall price performance for the year is -15.83%. The short interest in New Gold Inc. (AMEX:NGD) is 1.79 million shares and it means that shorts have 0.45 day(s) to cover.

The consensus price target of analysts on Wall Street is $1.50, which implies an increase of 22.0% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.05 and $2.02 respectively. As a result, NGD is trading at a discount of -72.65% off the target high and 10.26% off the low.

New Gold Inc. (NGD) estimates and forecasts

Statistics show that New Gold Inc. has outperformed its competitors in share price, compared to the industry in which it operates. New Gold Inc. (NGD) shares have gone down -1.68% during the last six months, with a year-to-date growth rate more than the industry average at 225.00% against 21.70. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 150.00% this quarter and then jump 200.00% in the quarter after that. In the rating firms’ projections, revenue will increase 27.80% compared to the previous financial year.

Revenue for the current quarter is expected to be $176.15 million as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $202.24 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $115.7 million and $149.11 million respectively. In this case, analysts expect current quarter sales to grow by 52.20% and then jump by 35.60% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 2.78%. While earnings are projected to return 250.00% in 2023, the next five years will return 5.00% per annum.

NGD Dividends

New Gold Inc. is due to release its next quarterly earnings between August 02 and August 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

New Gold Inc. (AMEX:NGD)’s Major holders

New Gold Inc. insiders own 0.35% of total outstanding shares while institutional holders control 52.41%, with the float percentage being 52.59%. Van Eck Associates Corporation is the largest shareholder of the company, while 222 institutions own stock in it. As of Mar 30, 2023, the company held over 72.24 million shares (or 10.57% of all shares), a total value of $79.47 million in shares.

The next largest institutional holding, with 16.67 million shares, is of Connor Clark & Lunn Investment Management Ltd’s that is approximately 2.44% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $18.34 million.

Also, the Mutual Funds coming in first place with the largest holdings of New Gold Inc. (NGD) shares are VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF. Data provided on Mar 30, 2023 indicates that VanEck ETF Trust-VanEck Gold Miners ETF owns about 39.97 million shares. This amounts to just over 5.85 percent of the company’s overall shares, with a $43.96 million market value. The same data shows that the other fund manager holds slightly less at 25.71 million, or about 3.77% of the stock, which is worth about $28.28 million.

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