New Gold Inc [AMEX: NGD] loss -7.66% or -0.21 points to close at $2.53 with a heavy trading volume of 16438395 shares.
The daily chart for NGD points out that the company has recorded 36.02% gains over the past six months.
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If we look at the average trading volume of 9.56M shares, NGD reached to a volume of 16438395 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 $3.38 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 2.10. 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.
BMO Capital Markets have made an estimate for New Gold Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on May 31, 2024. The new note on the price target was released on May 21, 2024, representing the official price target for New Gold Inc stock.
The Average True Range (ATR) for New Gold Inc is set at 0.14, with the Price to Sales ratio for NGD stock in the period of the last 12 months amounting to 3.18. The Price to Book ratio for the last quarter was 2.01, with the Price to Cash per share for the same quarter was set at 0.13. Price to Free Cash Flow for NGD in the course of the last twelve months was 39.77 with Quick ratio for the last quarter at 0.84.
Trading performance analysis for NGD stock
New Gold Inc [NGD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.33. With this latest performance, NGD shares dropped by -10.28% in over the last four-week period, additionally plugging by 36.02% over the last 6 months – not to mention a rise of 116.24% 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 34.88, with the RSI for the last a single of trading hit 29.23, and the three-weeks RSI is set at 39.78 for New Gold Inc [NGD]. The present Moving Average for the last 50 days of trading for this stock 2.83, while it was recorded at 2.71 for the last single week of trading, and 2.11 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 0.84 and a Current Ratio set at 1.42.
New Gold Inc [NGD]: An earnings per share (EPS) analysis
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 0.02/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -0.03. 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.
An analysis of Institutional ownership at New Gold Inc [NGD]
There are presently around $61.27%, or 64.44%% of NGD stock, in the hands of institutional investors. The top three institutional holders of NGD stocks are: VAN ECK ASSOCIATES CORP with ownership of 70.34 million shares, which is approximately 10.2302%. CONDIRE MANAGEMENT, LP, holding 34.88 million shares of the stock with an approximate value of $$68.02 million in NGD stocks shares; and CONDIRE MANAGEMENT, LP, currently with $$39.22 million in NGD stock with ownership which is approximately 2.9248%.
