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New Gold Inc. (NGD) Review – Making Smarter Decisions

207 institutions hold shares in New Gold Inc. (NGD), with 1.32M shares held by insiders accounting for 0.19% while institutional investors hold 53.75% of the company’s shares. The shares outstanding are 677.20M, and float is at 670.49M with Short Float at 1.64%. Institutions hold 53.65% of the Float.

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The top institutional shareholder in the company is Van Eck Associates Corporation with over 73.82 million shares valued at $161.66 million. The investor’s holdings represent 10.84% of the NGD Shares outstanding. As of Dec 30, 2020, the second largest holder is Renaissance Technologies, LLC with 19.97 million shares valued at $43.74 million to account for 2.93% of the shares outstanding. The other top investors are Connor Clark & Lunn Investment Management Ltd which holds 14.34 million shares representing 2.11% and valued at over $31.41 million, while Kopernik Global Investors, LLC holds 1.74% of the shares totaling 11.84 million with a market value of $25.92 million.

New Gold Inc. (AMEX: NGD) is -26.03% lower on its value in year-to-date trading and has touched a low of $0.49 and a high of $2.40 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The NGD stock was last observed hovering at around $1.64 in the last trading session, with the day’s loss setting it -0.02% off its average median price target of $2.04 for the next 12 months. It is also 49.38% off the consensus price target high of $3.20 offered by 13 analysts, but current levels are -5.19% lower than the price target low of $1.54 for the same period.

Currently trading at $1.62, the stock is -3.97% and -8.10% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.89 million and changing -1.22% at the moment leaves the stock -9.00% off its SMA200. NGD registered 193.53% gain for a year compared to 6-month loss of -2.41%. The firm has a 50-day simple moving average (SMA 50) of $1.6921 and a 200-day simple moving average (SMA200) of $1.9176.

The stock witnessed a 0.00% gain in the last 1 month and extending the period to 3 months gives it a -26.70%, and is -7.43% down 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 4.88% over the week and 6.48% over the month.

New Gold Inc. (NGD) has around 1337 employees, a market worth around $1.08B and $643.40M in sales. Fwd P/E is 5.00. Profit margin for the company is -12.30%. Distance from 52-week low is 229.94% and -32.50% from its 52-week high. The company has generated returns on investments over the last 12 months (3.30%).

New Gold Inc. (NGD) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for New Gold Inc. (NGD) is a “Hold”. 13 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”. 4 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 04/28/2021 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 2.50% 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.

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

The company’s main competitors (and peers) include Barrick Gold Corporation (GOLD) that is trading 4.78% up over the past 12 months and Hecla Mining Company (HL) that is 195.83% higher over the same period. Coeur Mining Inc. (CDE) is 162.54% up on the 1-year trading charts. Short interest in the company’s stock has risen 28.95% from the last report on Feb 11, 2021 to stand at a total of 7.83 million short shares sold with a short interest ratio of 1.22.

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