In yesterday’s Wall Street session, New Gold Inc. (AMEX:NGD) shares traded at $1.14, up 5.56% from the previous session.
As of this writing, 11 analysts cover New Gold Inc. (AMEX:NGD). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $2.02 and a low of $1.05, we find $1.50. Given the previous closing price of $1.08, this indicates a potential upside of 38.89 percent. NGD stock price is now -7.57% away from the 50-day moving average and 6.39% away from the 200-day moving average. The market capitalization of the company currently stands at $769.99M.
There are 5 analysts who have given it a hold rating, whereas 4 have given it a buy rating. Brokers who have rated the stock have averaged $1.48 as their price target over the next twelve months.
A total of 3.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NGD stock. A new stake in New Gold Inc. shares was purchased by ETF MANAGERS GROUP, LLC during the first quarter worth $7,459,000. INVENOMIC CAPITAL MANAGEMENT LP invested $5,237,000 in shares of NGD during the first quarter. In the first quarter, BOUNDARY CREEK ADVISORS LP acquired a new stake in New Gold Inc. valued at approximately $1,282,000. GREY STREET CAPITAL, LLC acquired a new stake in NGD for approximately $912,000. MANATUCK HILL PARTNERS, LLC purchased a new stake in NGD valued at around $342,000 in the second quarter. In total, there are 222 active investors with 55.10% ownership of the company’s stock.
Monday morning saw New Gold Inc. (AMEX: NGD) opened at $1.0900. During the past 12 months, New Gold Inc. has had a low of $0.61 and a high of $1.48. As of last week, the company has a debt-to-equity ratio of 0.46, a current ratio of 2.30, and a quick ratio of 1.50. The fifty day moving average price for NGD is $1.2304 and a two-hundred day moving average price translates $1.0730 for the stock.
The latest earnings results from New Gold Inc. (AMEX: NGD) was released for Mar, 2023. According to the Gold Company, earnings per share came in at $0.03, beating analysts’ expectations of $0.01 by 0.02. This compares to -$0.01 EPS in the same period last year. The net profit margin was -14.40% and return on equity was -9.40% for NGD. The company reported revenue of $201.6 million for the quarter, compared to $174.7 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 15.4 percent. For the current quarter, analysts expect NGD to generate $176.15M in revenue.
New Gold Inc.(NGD) Company Profile
New Gold Inc., an intermediate gold mining company, engages in the exploration, development, and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company’s principal operating properties include 100% interests in the Rainy River mine located in Ontario, Canada; New Afton mine situated in British Columbia, Canada; and the Cerro San Pedro mine in San Luis Potosí, Mexico. New Gold Inc. was founded in 1980 and is headquartered in Toronto, Canada.
