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Does New Gold Inc. (AMEX:NGD) Look Expensive At $1.07? Here’s How To Know.

In last trading session, New Gold Inc. (AMEX:NGD) saw 4.33 million shares changing hands with its beta currently measuring 1.85. Company’s recent per…



This article was originally published by The Marketing Sentinal

In last trading session, New Gold Inc. (AMEX:NGD) saw 4.33 million shares changing hands with its beta currently measuring 1.85. Company’s recent per share price level of $1.07 trading at -$0.08 or -6.96% at ring of the bell on the day assigns it a market valuation of $900.14M. That closing price of NGD’s stock is at a discount of -88.79% from its 52-week high price of $2.02 and is indicating a premium of 5.61% from its 52-week low price of $1.01. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 4.93 million shares which gives us an average trading volume of 4.74 million if we extend that period to 3-months.

For New Gold Inc. (NGD), analysts’ consensus is at an average recommendation of a Hold while assigning it a mean rating of 2.80. Splitting up the data highlights that, out of 12 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 8 suggested the stock as a Hold whereas 3 see the stock as a Buy. 1 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.03 in the current quarter.

New Gold Inc. (AMEX:NGD) trade information

Upright in the red during last session for losing -6.96%, in the last five days NGD remained trading in the red while hitting it’s week-highest on Monday, 06/27/22 when the stock touched $1.07 price level, adding 15.75% to its value on the day. New Gold Inc.’s shares saw a change of -28.67% in year-to-date performance and have moved -5.31% in past 5-day. New Gold Inc. (AMEX:NGD) showed a performance of -15.75% in past 30-days. Number of shares sold short was 4.06 million shares which calculate 0.76 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $1.95 to the stock, which implies a rise of 45.13% to its current value. Analysts have been projecting $1.50 as a low price target for the stock while placing it at a high target of $2.50. It follows that stock’s current price would drop -133.64% in reaching the projected high whereas dropping to the targeted low would mean a loss of -40.19% for stock’s current value.

New Gold Inc. (NGD) estimates and forecasts

Statistics highlight that New Gold Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -27.70% of value to its shares in past 6 months, showing an annual growth rate of 8.33% while that of industry is 12.20. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to decrease by -25.00% in the current quarter and calculating 33.30% increase in the next quarter. This year revenue growth is estimated to rise 1.80% from the last financial year’s standing.

3 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $183.53 million for the same. And 2 analysts are in estimates of company making revenue of $197.82 million in the next quarter that will end on Sep 2022. Company posted $198.2 million and $179.8 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -7.40% while estimating it to be 10.00% for the next quarter.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 70.20% during past 5 years. In 2022, company’s earnings growth rate is likely to be around 275.70% while estimates for its earnings growth in next 5 years are of 8.65%.

NGD Dividends

New Gold Inc. is more likely to be releasing its next quarterly report between February 16 and February 21 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

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

Insiders are in possession of 0.26% of company’s total shares while institution are holding 54.77 percent of that, with stock having share float percentage of 54.91%. Investors also watch the number of corporate investors in a company very closely, which is 54.77% institutions for New Gold Inc. that are currently holding shares of the company. Van Eck Associates Corporation is the top institutional holder at NGD for having 69.32 million shares of worth $124.77 million. And as of Mar 30, 2022, it was holding 10.17% of the company’s outstanding shares.

The second largest institutional holder is Renaissance Technologies, LLC, which was holding about 16.36 million shares on Dec 30, 2021. The number of shares represents firm’s hold over 2.40% of outstanding shares, having a total worth of $24.54 million.

On the other hand, VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF are the top two Mutual Funds which own company’s shares. As of Dec 30, 2021, the former fund manager was holding 30.4 million shares of worth $45.61 million or 4.46% of the total outstanding shares. The later fund manager was in possession of 29.28 million shares on Feb 27, 2022, making its stake of worth around $50.66 million in the company or a holder of 4.30% of company’s stock.


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