New Gold Inc [AMEX: NGD] gained 5.22% or 0.07 points to close at $1.41 with a heavy trading volume of 8352175 shares. The company report on February 13, 2024 at 5:15 PM that NEW GOLD REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS.
Achieves Top End of Consolidated Production Guidance and Midpoint of All-In Sustaining Cost Guidance.
The daily chart for NGD points out that the company has recorded 34.29% gains over the past six months.
If we look at the average trading volume of 4.14M shares, NGD reached to a volume of 8352175 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $1.64 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 new note on the price target was released on December 06, 2022, representing the official price target for New Gold Inc stock. Previously, the target price had yet another raise from $1 to $1.25, while RBC Capital Mkts kept a Outperform rating on NGD stock.
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 1.23. The Price to Book ratio for the last quarter was 1.23, with the Price to Cash per share for the same quarter was set at 0.28.
Trading performance analysis for NGD stock
New Gold Inc [NGD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 25.89. With this latest performance, NGD shares gained by 8.46% in over the last four-week period, additionally plugging by 34.29% over the last 6 months – not to mention a rise of 47.54% 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 65.87, with the RSI for the last a single of trading hit 74.59, and the three-weeks RSI is set at 60.50 for New Gold Inc [NGD]. The present Moving Average for the last 50 days of trading for this stock 1.2944, while it was recorded at 1.2620 for the last single week of trading, and 1.1823 for the last 200 days.
New Gold Inc [NGD]: A deeper dive into fundamental analysis
New Gold Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.98 and a Current Ratio set at 1.54.
New Gold Inc [NGD]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, New Gold Inc posted 0.03/share EPS, while the average EPS was predicted by analysts to be reported at 0.01/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 200.00%. 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%.
An analysis of Institutional ownership at 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%.
