Taking the lead: New Gold Inc. (NGD)

New Gold Inc. (AMEX: NGD) stock fell -3.20% on Wednesday to $1.21 against a previous-day closing price of $1.25. With 4.54 million shares changed hands, the volume of the stock remained heavier than its average volume of 4.08 million shares. During the session, the Gold company that operates in wider Basic Materials sector, reached to the highest price of $1.2500 whereas the lowest price it dropped to was $1.1900. The 52-week range on NGD shows that it touched its highest point at $1.48 and its lowest point at $0.61 during that stretch. It currently has a 1-year price target of $1.35. Beta for the stock currently stands at 1.54.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NGD was down-trending over the past week, with a drop of -8.33%, but this was down by -4.72% over a month. Three-month performance surged to 38.76% while six-month performance rose 11.01%. The stock lost -9.70% in the past year, while it has gained 23.47% so far this year. A look at the trailing 12-month EPS for NGD yields -0.14 with Next year EPS estimates of 0.13. For the next quarter, that number is 0.01. This implies an EPS growth rate of 250.00% for this year and 100.00% for next year. EPS is expected to grow by 5.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 2.78%.

Float and Shares Shorts:

At present, 682.70 million NGD shares are outstanding with a float of 680.19 million shares on hand for trading. On Apr 27, 2023, short shares totaled 1.79 million, which was 0.26% higher than short shares on Mar 30, 2023. In addition to Mr. Patrick Godin Asc., B.Sc., Eng., M.Eng., P.Eng. as the firm’s CEO, Pres & Director, Mr. Robert J. Chausse B.Com., C.A., CPA serves as its Exec. VP & CFO.

Institutional Ownership:

Through their ownership of 52.41% of NGD’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 8.81% of NGD, in contrast to 34.26% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in NGD with 10.59% of the stake, Van Eck Associates Corp. holds 72,242,626 shares worth 72,242,626. A second-largest stockholder of NGD, AzValor Asset Management SGIIC SA, holds 59,552,323 shares, controlling over 8.73% of the firm’s shares. Connor, Clark & Lunn Investment M is the third largest shareholder in NGD, holding 16,673,182 shares or 2.44% stake. With a 6.69% stake in NGD, the azValor Internacional, FI is the largest stakeholder. A total of 45,615,839 shares are owned by the mutual fund manager. The VanEck Gold Miners ETF, which owns about 5.67% of NGD stock, is the second-largest Mutual Fund holder. It holds 38,653,191 shares valued at 49.48 million. VanEck Junior Gold Miners ETF holds 3.87% of the stake in NGD, owning 26,407,793 shares worth 33.8 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, NGD reported revenue of $115.70M and operating income of -$14.30M. The EBITDA in the recently reported quarter was $23.30M and diluted EPS was -$0.06.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NGD since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With NGD analysts setting a high price target of $2.02 and a low target of $1.05, the average target price over the next 12 months is $1.50. Based on these targets, NGD could surge 66.94% to reach the target high and fall by -13.22% to reach the target low. Reaching the average price target will result in a growth of 23.97% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

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