New Gold Inc [AMEX: NGD] traded at a low on Wednesday, posting a -4.69 loss after which it closed the day’ session at $1.22. The company report on January 9, 2024 at 6:30 AM that NEW GOLD ACHIEVES TOP END OF CONSOLIDATED PRODUCTION GUIDANCE.
Strong Fourth Quarter Results Lead to Achieving Top End of Consolidated 2023 Production Guidance, Growth Initiatives Nearing Completion.
The results of the trading session contributed to over 3223925 shares changing hands. Over the past one week, the price volatility of New Gold Inc stands at 4.71% while the volatility over the past one month is 4.65%.
The market cap for NGD stock reached $835.09 million, with 682.28 million shares outstanding and 681.86 million shares in the current float. Compared to the average trading volume of 3.74M shares, NGD reached a trading volume of 3223925 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about New Gold Inc [NGD]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NGD shares is $1.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NGD stock is a recommendation set at 2.73. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Scotiabank have made an estimate for New Gold Inc shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on March 03, 2023.
The Average True Range (ATR) for New Gold Inc is set at 0.07, with the Price to Sales ratio for NGD stock in the period of the last 12 months amounting to 1.11. The Price to Book ratio for the last quarter was 0.95, with the Price to Cash per share for the same quarter was set at 0.27.
How has NGD stock performed recently?
New Gold Inc [NGD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.43. With this latest performance, NGD shares dropped by -19.21% in over the last four-week period, additionally sinking by -2.40% over the last 6 months – not to mention a rise of 4.27% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NGD stock in for the last two-week period is set at 37.25, with the RSI for the last a single of trading hit 32.50, and the three-weeks RSI is set at 41.49 for New Gold Inc [NGD]. The present Moving Average for the last 50 days of trading for this stock 1.3694, while it was recorded at 1.2540 for the last single week of trading, and 1.1989 for the last 200 days.
New Gold Inc [NGD]: Deeper insight into the fundamentals
New Gold Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.63.
Earnings analysis for New Gold Inc [NGD]
With the latest financial reports released by the company, New Gold Inc posted -0.01/share EPS, while the average EPS was predicted by analysts to be reported at 0/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NGD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for New Gold Inc go to 5.00%.
Insider trade positions for New Gold Inc [NGD]
The top three institutional holders of NGD stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NGD stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NGD stock with ownership which is approximately 5.8325%.
