New Gold Inc (AMEX:NGD) price on current trading day, fall -1.74% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $2.82.
A look at the stock’s price movement, the level at last check in today’s session was $2.87, moving within a range at $2.78 and $2.875. The beta value (5-Year monthly) was 1.589 while the PE ratio in trailing twelve months stood at 180.77. Turning to its 52-week performance, $3.25 and $1.09 were the 52-week high and 52-week low respectively. Overall, NGD moved 4.83% over the past month.
New Gold Inc’s market cap currently stands at around $2.23 billion, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 288.04M for the company’s revenue for the quarter, with a low and high estimate of 288.04M and 288.04M respectively. The average forecast suggests up to a 44.60% 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 951.17M, representing a 20.94% 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 50% 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.
8 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 5 recommend NGD as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
NGD’s current price about 3.70% and 0.71% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 52.74, while 7-day volatility ratio is 3.82% and 4.41% in the 30-day chart. Further, New Gold Inc (NGD) has a beta value of 1.32, and an average true range (ATR) of 0.12. Analysts have given the company’s stock an average 52-week price target of $3.25, forecast between a low of $3.25 and high of $3.25. Looking at the price targets, the low is -15.25% off recent price level in today’s trading while to achieve the yearly target high, it has to move -15.25%. Nonetheless, investors will most likely welcome a -15.25% jump to $3.25 which is the analysts’ median price.
If we refocus on New Gold Inc (AMEX:NGD), historical trading data shows that trading volumes averaged 7.5 over the past 10 days and 9.82 million over the past 3 months. The company’s latest data on shares outstanding shows there are 790.90 million shares.
The 3.90% of New Gold Inc’s shares are in the hands of company insiders while institutional holders own 55.12% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 9.29 million on 2024-11-15, giving us a short ratio of 0.87. Current price change has pushed the stock 93.15% 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.
