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New Gold Inc. Shares Are Down -34.15% Since The Beginning Of The Year

New Gold Inc. (AMEX:NGD) has a beta value of 1.87 and has seen 0.84 million shares traded in the recent trading session. The company, currently valued…

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This article was originally published by The Marketing Sentinal

New Gold Inc. (AMEX:NGD) has a beta value of 1.87 and has seen 0.84 million shares traded in the recent trading session. The company, currently valued at $947.43M, closed the recent trade at $1.34 per share which meant it lost -$0.01 on the day or -0.75% during that session. The NGD stock price is -64.93% off its 52-week high price of $2.21 and 24.63% above the 52-week low of $1.01. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.45 million shares traded. The 3-month trading volume is 5.59 million shares.

The consensus among analysts is that New Gold Inc. (NGD) is a Hold stock at the moment, with a recommendation rating of 2.80. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 8 out of 12 have rated it as a Hold, with 3 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is $0.03.

New Gold Inc. (AMEX:NGD) trade information

Sporting -0.75% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 06/07/22 when the NGD stock price touched $1.34 or saw a rise of 7.59%. Year-to-date, New Gold Inc. shares have moved -10.00%, while the 5-day performance has seen it change 6.30%. Over the past 30 days, the shares of New Gold Inc. (AMEX:NGD) have changed 0.00%. Short interest in the company has seen 4.06 million shares shorted with days to cover at 0.76.

New Gold Inc. (NGD) estimates and forecasts

Figures show that New Gold Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -7.53% over the past 6 months, with this year growth rate of 8.33%, compared to 14.40% for the industry. Other than that, the company has, however, increased its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are -25.00% and 33.30% for the next quarter. Revenue growth from the last financial year stood is estimated to be 1.80%.

3 analysts offering their estimates for the company have set an average revenue estimate of $183.53 million for the current quarter. 2 have an estimated revenue figure of $197.82 million for the next quarter concluding in Sep 2022. Year-ago sales stood $198.2 million and $179.8 million respectively for this quarter and the next, and analysts expect sales will shrink by -7.40% for the current quarter and 10.00% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 70.20% over the past 5 years. Earnings growth for 2022 is a modest 275.70% while over the next 5 years, the company’s earnings are expected to increase by 8.65%.

NGD Dividends

New Gold Inc. is expected to release its next earnings report between February 16 and February 21 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

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

Insiders own 0.26% of the company shares, while shares held by institutions stand at 54.77% with a share float percentage of 54.91%. Investors are also buoyed by the number of investors in a company, with New Gold Inc. having a total of 255 institutions that hold shares in the company. The top two institutional holders are Van Eck Associates Corporation with over 69.32 million shares worth more than $124.77 million. As of Mar 30, 2022, Van Eck Associates Corporation held 10.17% of shares outstanding.

The other major institutional holder is Renaissance Technologies, LLC, with the holding of over 16.36 million shares as of Dec 30, 2021. The firm’s total holdings are worth over $24.54 million and represent 2.40% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF. As of Dec 30, 2021, the former fund manager holds about 4.46% shares in the company for having 30.4 million shares of worth $45.61 million while later fund manager owns 29.28 million shares of worth $50.66 million as of Feb 27, 2022, which makes it owner of about 4.30% of company’s outstanding stock.

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