Is New Gold Inc (NGD) a good stock to buy now?

New Gold Inc (AMEX: NGD) is 89.04% higher on its value in year-to-date trading and has touched a low of $0.96 and a high of $3.25 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 $2.80 in the last trading session, with the day’s loss setting it -0.04%.

Currently trading at $2.76, the stock is -6.06% and 6.28% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.9 million and changing -1.43% at the moment leaves the stock 43.47% off its SMA200. NGD registered 170.59% gain for a year compared to 6-month gain of 57.71%. The firm has a 50-day simple moving average (SMA 50) of $2.6116 and a 200-day simple moving average (SMA200) of $1.92995.

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The stock witnessed a 18.45% loss in the last 1 month and extending the period to 3 months gives it a 22.67%, and is -4.17% 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 3.04% over the week and 4.48% over the month.

New Gold Inc (NGD) has around 1542 employees, a market worth around $2.18B and $804.50M in sales. Fwd P/E is 8.66. Profit margin for the company is -2.55%. Distance from 52-week low is 187.50% and -15.08% from its 52-week high. The company has generated returns on investments over the last 12 months (-1.41%).

with sales reaching $277.58M over the same period.The EPS is expected to grow by 139.38% this year, but quarterly earnings will post 24.30% year-over-year. Quarterly sales are estimated to grow 37.90% in year-over-year returns.

New Gold Inc (NGD) Top Institutional Holders

292.0 institutions hold shares in New Gold Inc (NGD), with institutional investors hold 64.98% of the company’s shares. The shares outstanding are 790.60M, and float is at 751.56M with Short Float at 0.98%. Institutions hold 61.78% of the Float.

The top institutional shareholder in the company is VAN ECK ASSOCIATES CORP with over 70.34 million shares valued at $137.17 million. The investor’s holdings represent 10.2302% of the NGD Shares outstanding. As of 2024-06-30, the second largest holder is CONDIRE MANAGEMENT, LP with 34.88 million shares valued at $68.02 million to account for 5.0732 of the shares outstanding. The other top investors are RENAISSANCE TECHNOLOGIES LLC which holds 20.11 million shares representing 2.9248% and valued at over $39.22 million, while MACKENZIE FINANCIAL CORP holds 2.3746 of the shares totaling 16.33 million with a market value of $32.23 million.