New Gold Inc. (NGD) Analysis & Forecast for September 2020

New Gold Inc. (AMEX: NGD) is 92.05% higher on its value in year-to-date trading and has touched a low of $0.39 and a high of $1.76 in the current 52-week trading range. The NGD stock was last observed hovering at around $1.67 in the last trading session, with the day’s gains setting it 0.02% off its average median price target of $1.83 for the next 12 months. It is also 32.4% off the consensus price target high of $2.50 offered by 14 analysts, but current levels are -13.42% lower than the price target low of $1.49 for the same period.

Currently trading at $1.69, the stock is 7.61% and 13.62% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.43 million and changing 1.20% at the moment leaves the stock 64.54% off its SMA200. NGD registered 40.83% gain for a year compared to 6-month gain of 91.68%. The firm has a 50-day simple moving average (SMA 50) of $1.5475 and a 200-day simple moving average (SMA200) of $1.0957.

The stock witnessed a 4.32% loss in the last 1 month and extending the period to 3 months gives it a 42.02%, and is 14.97% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 7.09% over the week and 6.83% over the month.

New Gold Inc. (NGD) has around 1267 employees, a market worth around $1.10B and $578.40M in sales. Fwd P/E is 10.76. Profit margin for the company is -17.00%. Distance from 52-week low is 333.22% and -3.98% from its 52-week high. The company has generated returns on investments over the last 12 months (-0.40%).

New Gold Inc. (NGD) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for New Gold Inc. (NGD) is a “Hold”. 14 analysts offering their recommendations for the stock have an average rating of 2.70, where 7 rate it as a Hold and 0 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

New Gold Inc. is expected to release its quarterly report on 10/21/2020 and quarterly earnings per share for the current quarter are estimated at $0.01 with sales reaching $217.32M over the same period.The EPS is expected to grow by 93.60% this year, but quarterly earnings will post 55.40% year-over-year. Quarterly sales are estimated to grow 28.20% in year-over-year returns.

New Gold Inc. (NGD) Top Institutional Holders

192 institutions hold shares in New Gold Inc. (NGD), with 1.31M shares held by insiders accounting for 0.19% while institutional investors hold 57.66% of the company’s shares. The shares outstanding are 676.00M, and float is at 674.71M with Short Float at 0.75%. Institutions hold 57.55% of the Float.

The top institutional shareholder in the company is Van Eck Associates Corporation with over 63.07 million shares valued at $85.14 million. The investor’s holdings represent 9.33% of the NGD Shares outstanding. As of Jun 29, 2020, the second largest holder is Kopernik Global Investors, LLC with 36.44 million shares valued at $49.19 million to account for 5.39% of the shares outstanding. The other top investors are Russell Investments Group, Ltd. which holds 25.13 million shares representing 3.72% and valued at over $33.92 million, while Renaissance Technologies, LLC holds 3.18% of the shares totaling 21.48 million with a market value of $29.0 million.

New Gold Inc. (NGD): Who are the competitors?

The company’s main competitors (and peers) include Barrick Gold Corporation (GOLD) that is trading 51.03% up over the past 12 months. Coeur Mining Inc. (CDE) is 50.18% up on the 1-year trading charts. Short interest in the company’s stock has fallen -72.67% from the last report on Jul 14, 2020 to stand at a total of 8.72 million short shares sold with a short interest ratio of 0.68.