New Gold Inc (AMEX:NGD) price on Thursday, July 11, rose 1.05% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $2.40.
A look at the stock’s price movement, the level at last check in today’s session was $2.38. Turning to its 52-week performance, $2.45 and $0.86 were the 52-week high and 52-week low respectively. Overall, NGD moved 23.33% over the past month.
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New Gold Inc’s market cap currently stands at around $1.90 billion.
Analysts have a consensus estimate of 224.77M for the company’s revenue for the quarter, with a low and high estimate of 224.77M and 224.77M respectively. The average forecast suggests up to a 23.30% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 947.88M, representing a 20.50% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that NGD is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
NGD’s current price about 18.77% and 20.90% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 74.96, while 7-day volatility ratio is 5.05% and 4.33% in the 30-day chart. Further, New Gold Inc (NGD) has a beta value of 1.34, and an average true range (ATR) of 0.10.
If we refocus on New Gold Inc (AMEX:NGD), historical trading data shows that trading volumes averaged 9.22 million over the past 3 months. The company’s latest data on shares outstanding shows there are 790.48 million shares.
The 5.65% of New Gold Inc’s shares are in the hands of company insiders while institutional holders own 44.34% of the company’s shares. Current price change has pushed the stock 64.73% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the NGD stock continues to rise going into the next quarter.
