New Gold Inc [AMEX: NGD] stock went on a downward path that fall over -2.60% on Firday, amounting to a one-week price increase of more than 11.94%. 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.
Over the last 12 months, NGD stock rose by 69.99%. The one-year New Gold Inc stock forecast points to a potential upside of 8.54. The average equity rating for NGD stock is currently 2.73, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $1.03 billion, with 687.01 million shares outstanding and 645.64 million shares in the current float. Compared to the average trading volume of 4.33M shares, NGD stock reached a trading volume of 11520822 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 0.08, with the Price to Sales ratio for NGD stock in the period of the last 12 months amounting to 1.31. The Price to Book ratio for the last quarter was 1.31, with the Price to Cash per share for the same quarter was set at 0.28.
NGD Stock Performance Analysis:
New Gold Inc [NGD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.94. With this latest performance, NGD shares gained by 19.05% in over the last four-week period, additionally plugging by 50.00% over the last 6 months – not to mention a rise of 69.99% 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 68.09, with the RSI for the last a single of trading hit 74.05, and the three-weeks RSI is set at 63.34 for New Gold Inc [NGD]. The present Moving Average for the last 50 days of trading for this stock 1.2928, while it was recorded at 1.4680 for the last single week of trading, and 1.1859 for the last 200 days.
Insight into New Gold Inc Fundamentals:
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.
NGD Stock EPS
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%.
New Gold Inc [NGD] Institutonal Ownership Details
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%.
