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

New Gold Inc (AMEX: NGD) is 58.47% higher on its value in year-to-date trading and has touched a low of $1.74 and a high of $3.98 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 $3.84 in the last trading session, with the day’s gains setting it 0.09%.

Currently trading at $3.93, the stock is 11.39% and 19.09% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 26.6 million and changing 2.34% at the moment leaves the stock 37.85% off its SMA200. NGD registered 107.94% gain for a year compared to 6-month gain of 37.89%.

The stock witnessed a 11.02% loss in the last 1 month and extending the period to 3 months gives it a 35.99%, and is 16.62% 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 7.39% over the week and 6.79% over the month.

Current P/E ratio is 23.55 and Fwd P/E is 5.45. Profit margin for the company is 13.90%. Distance from 52-week low is 125.86% and -1.31% from its 52-week high. The company has generated returns on investments over the last 12 months (8.41%).

The EPS is expected to grow by 108.57% this year.

New Gold Inc (NGD) Top Institutional Holders

The shares outstanding are 791.37M, and float is at 760.39M with Short Float at 1.62%.

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 9.5238% 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 4.7229 of the shares outstanding. The other top investors are RENAISSANCE TECHNOLOGIES LLC which holds 20.11 million shares representing 2.7229% and valued at over $39.22 million, while MACKENZIE FINANCIAL CORP holds 2.2107 of the shares totaling 16.33 million with a market value of $32.23 million.