New Gold Inc (AMEX:NGD) shares, rose in value, with the stock price up by 5.22% to the previous day’s close as strong demand from buyers drove the stock to $2.82.
Actively observing the price movement in the last trading, the stock closed the session at $2.68. The PE ratio was 22.61 over 12-month period. Referring to stock’s 52-week performance, its high was $3.25, and the low was $1.40. On the whole, NGD has fluctuated by -2.42% over the past month.
With the market capitalization of New Gold Inc currently standing at about $2.23 billion, investors are eagerly awaiting this quarter’s results, scheduled for in April.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 1.14B, with a low estimate of 260.56M and a high estimate of 260.56M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 260.56M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that NGD’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium-term indicators have put the stock in the category of 75% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0.46, with the price of NGD currently trading nearly -2.49% and 1.31% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 49.37, while the 7-day volatility ratio is showing 5.30% which for the 30-day chart, stands at 5.06%. Furthermore, New Gold Inc (NGD)’s beta value is 1.14, and its average true range (ATR) is 0.15.
A comparison of New Gold Inc (NGD) with its peers suggests the former has fared considerably weaker in the market. NGD showed an intraday change of 5.22% in last session, and over the past year, it grew by 110.45%%. In comparison, Barrick Gold Corp. (GOLD) has moved higher at 4.12%% on the day and was up 17.50% over the past 12 months. Additionally, there is a gain of 8.51%% for Coeur Mining Inc. (CDE) in last trading while the stock has seen an overall depriciation of 82.74%% over the past year.
Data on historical trading for New Gold Inc (AMEX:NGD) indicates that the trading volumes over the past 3 months, they’ve averaged 11.69 million. According to company’s latest data on outstanding shares, there are 790.93 million shares outstanding.
Nearly 3.91% of New Gold Inc’s shares belong to company insiders and institutional investors own 54.53% of the company’s shares. The stock has risen by 13.71% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NGD stock heading into the next quarter.
