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New Gold Inc (NGD) Stock Could Soon Reward Patient Investors

New Gold Inc (AMEX: NGD) is 15.75% higher on its value in year-to-date trading and has touched a low of $0.86 and a high of $1.76 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The NGD stock was last observed hovering at around $1.70 in the last trading session, with the day’s loss setting it -0.01%.

Currently trading at $1.69, the stock is 6.56% and 24.08% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.84 million and changing -0.59% at the moment leaves the stock 38.80% off its SMA200. NGD registered 52.25% gain for a year compared to 6-month gain of 80.61%. The firm has a 50-day simple moving average (SMA 50) of $1.74 and a 200-day simple moving average (SMA200) of $7.50.

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The stock witnessed a 36.29% loss in the last 1 month and extending the period to 3 months gives it a 15.75%, and is 6.29% 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 6.29% over the week and 6.93% over the month.

Fwd P/E is 10.59. Profit margin for the company is -8.21%. Distance from 52-week low is 96.51% and -3.98% from its 52-week high. The company has generated returns on investments over the last 12 months (-5.43%).

New Gold Inc quarterly earnings per share for the current quarter are estimated at $0 with sales reaching $189.61M over the same period.The EPS is expected to grow by 44.38% this year, but quarterly earnings will post 7.90% year-over-year. Quarterly sales are estimated to shrink -5.90% in year-over-year returns.

New Gold Inc (NGD) Top Institutional Holders

238 institutions hold shares in New Gold Inc (NGD), with institutional investors hold 53.97% of the company’s shares. The shares outstanding are 687.01M, and float is at 646.84M with Short Float at 0.60%. Institutions hold 50.85% of the Float.

The top institutional shareholder in the company is Van Eck Associates Corporation with over 65.1 million shares valued at $70.3 million. The investor’s holdings represent 9.51% of the NGD Shares outstanding. As of Jun 29, 2023, the second largest holder is Connor Clark & Lunn Investment Management Ltd with 16.04 million shares valued at $17.32 million to account for 2.34% of the shares outstanding. The other top investors are Renaissance Technologies, LLC which holds 15.77 million shares representing 2.30% and valued at over $17.03 million, while TSP Capital Management Group, LLC holds 1.61% of the shares totaling 10.99 million with a market value of $11.86 million.

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