Why New Gold Inc (NGD) Stock Could See Much Higher Prices Ahead

New Gold Inc (AMEX: NGD) is 89.04% higher on its value in year-to-date trading and has touched a low of $1.09 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 $2.77 in the last trading session, with the day’s loss setting it -0.01%.

Currently trading at $2.76, the stock is -3.53% and -2.05% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.92 million and changing -0.36% at the moment leaves the stock 32.99% off its SMA200. NGD registered 133.90% gain for a year compared to 6-month gain of 48.39%. The firm has a 50-day simple moving average (SMA 50) of $2.8156 and a 200-day simple moving average (SMA200) of $2.06795.

3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free
Sponsored

The stock witnessed a -1.43% loss in the last 1 month and extending the period to 3 months gives it a 28.37%, and is -3.50% 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 5.43% over the week and 3.77% over the month.

New Gold Inc (NGD) has around 1542 employees, a market worth around $3.06B and $850.00M in sales. Current P/E ratio is 176.92 and Fwd P/E is 8.17. Profit margin for the company is 2.36%. Distance from 52-week low is 153.21% and -15.08% from its 52-week high. The company has generated returns on investments over the last 12 months (1.39%).

with sales reaching $294.86M over the same period.The EPS is expected to grow by 164.83% this year, but quarterly earnings will post 21.90% year-over-year. Quarterly sales are estimated to grow 48.00% in year-over-year returns.

New Gold Inc (NGD) Top Institutional Holders

297.0 institutions hold shares in New Gold Inc (NGD), with institutional investors hold 64.91% of the company’s shares. The shares outstanding are 790.90M, and float is at 751.85M with Short Float at 0.78%. Institutions hold 61.72% 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.