New Gold Inc. (AMEX:NGD) has a beta value of 1.40 and has seen 3.41 million shares traded in the last trading session. The company, currently valued at $706.67M, closed the last trade at $0.94 per share which meant it lost -$0.07 on the day or -6.92% during that session. The NGD stock price is -114.89% off its 52-week high price of $2.02 and 35.11% above the 52-week low of $0.61. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.34 million shares traded. The 3-month trading volume is 3.83 million shares.

The consensus among analysts is that New Gold Inc. (NGD) is an Overweight 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. 7 out of 12 have rated it as a Hold, with 4 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.02.

New Gold Inc. (AMEX:NGD) trade information

Sporting -6.92% in the red in last session, the stock has traded in the green over the last five days, with the highest price hit on Friday, 10/07/22 when the NGD stock price touched $0.94 or saw a rise of 10.48%. Year-to-date, New Gold Inc. shares have moved -37.33%, while the 5-day performance has seen it change 6.83%. Over the past 30 days, the shares of New Gold Inc. (AMEX:NGD) have changed 35.72%. Short interest in the company has seen 8.12 million shares shorted with days to cover at 1.29.

Wall Street analysts have a consensus price target for the stock at $1.21, which means that the shares’ value could jump 22.31% from current levels. The projected low price target is $0.85 while the price target rests at a high of $2.01. In that case, then, we find that the current price level is -113.83% off the targeted high while a plunge would see the stock lose 9.57% from current levels.

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 -47.77% over the past 6 months, with this year growth rate of -133.33%, compared to 2.20% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are -150.00% and -66.70% for the next quarter. Revenue growth from the last financial year stood is estimated to be -13.30%.

4 analysts offering their estimates for the company have set an average revenue estimate of $136.71 million for the current quarter. 3 have an estimated revenue figure of $174.57 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 -31.00% for the current quarter and -2.90% 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 November 10 and November 14 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 54.62% with a share float percentage of 54.76%. Investors are also buoyed by the number of investors in a company, with New Gold Inc. having a total of 245 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 10.16% of shares outstanding.

The other major institutional holder is Invesco Ltd., with the holding of over 16.61 million shares as of Mar 30, 2022. The firm’s total holdings are worth over $29.9 million and represent 2.44% 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 Jun 29, 2022, the former fund manager holds about 5.29% shares in the company for having 36.1 million shares of worth $38.63 million while later fund manager owns 25.85 million shares of worth $27.66 million as of Jun 29, 2022, which makes it owner of about 3.79% of company’s outstanding stock.

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