New Gold Inc (AMEX:NGD) shares, rose in value, with the stock price down by -3.89% to the previous day’s close as strong demand from buyers drove the stock to $1.73.
Actively observing the price movement in the last trading, the stock closed the session at $1.80. The value of beta (5-year monthly) was 1.52. Referring to stock’s 52-week performance, its high was $1.83, and the low was $0.86. On the whole, NGD has fluctuated by 21.83% over the past month.
With the market capitalization of New Gold Inc currently standing at about $1.19 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 24, 2024 – Apr 29, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.01, which is expected to increase to $0.03 for fiscal year $0.1 and then to about $0.15 by fiscal year 2025. Data indicates that the EPS growth is expected to be 42.90% in 2025, while the next year’s EPS growth is forecast to be 50.00%.
Analysts have estimated the company’s revenue for the quarter at $189.61 million, with a low estimate of $189.61 million and a high estimate of $189.61 million. According to the average forecast, sales growth in current quarter could jump down -5.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $852.21 million, representing an increase of 8.40% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that NGD’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% 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, with the price of NGD currently trading nearly 5.65% and 24.41% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 62.29, while the 7-day volatility ratio is showing 5.91% which for the 30-day chart, stands at 6.65%. Furthermore, New Gold Inc (NGD)’s beta value is 1.55, and its average true range (ATR) is 0.10.
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 -3.89% in last session, and over the past year, it grew by 51.75%%.
Data on historical trading for New Gold Inc (AMEX:NGD) indicates that the trading volumes over the past 10 days have averaged 7.4 million and over the past 3 months, they’ve averaged 5.73 million. According to company’s latest data on outstanding shares, there are 687.01 million shares outstanding.
Nearly 5.65% of New Gold Inc’s shares belong to company insiders and institutional investors own 46.83% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 3.87 million shares as on Mar 15, 2024, resulting in a short ratio of 0.47. According to the data, the short interest in New Gold Inc (NGD) stood at 0.57% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 4.71 million. The stock has risen by 18.49% 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.
