Van Eck Associates Corp. has recently announced that it has increased stake in New Gold Inc (AMEX:NGD) by 1.86%. After grabbing 66.32 million shares, the institutional investor is now in possession of 1.21 million shares of the Basic Materials Company. The new investment brought the stake of investor firm to 9.69% having worth around $96.83 million. Moreover, AzValor Asset Management SGIIC SA increased its share by 1.68 million to have a control over 59.33 million shares. And Connor, Clark & Lunn Investment M raised its holdings to 2200.0 shares by acquiring 16.04 million shares or 2.34% of the stake.
New Gold Inc (NGD) concluded trading on Wednesday at a closing price of $1.22, with 3.22 million shares of worth about $3.93 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -2.40% during that period and On Wednesday, January 24 the price saw a loss of about -4.69%. Currently the company’s common shares owned by public are about 682.28M shares, out of which, 681.86M shares are available for trading.
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azValor Internacional, FI, VanEck Gold Miners ETF, and VanEck Junior Gold Miners ETF are the top 3 mutual funds which are holding stakes in New Gold Inc azValor Internacional, FI is currently holding 49.22 million shares of worth totaling $71.86 million. The company recently came buying 1.73 million shares which brought its stake up to 7.19% of the company’s outstanding shares. VanEck Gold Miners ETF sold -0.34 million shares, after which its hold over company’s outstanding shares shrunk to 5.27%, leaving 36.07 million shares with the mutual fund that have a worth of about $52.66 million. VanEck Junior Gold Miners ETF, after selling 24.56 million shares, have now control over 3.59% of the stake in the company. It holds 21258.0 shares of worth $35.86 million.
However, the stock later moved at a day high price of 1.3100, or with a loss of -4.69%. Stock saw a price change of -5.43% in past 5 days and over the past one month there was a price change of -19.21%. Year-to-date (YTD), NGD shares are showing a performance of -16.44% which increased to 4.27% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.82 but also hit the highest price of $1.61 during that period. The average intraday trading volume for New Gold Inc shares is 3.74 million. The stock is currently trading -11.75% below its 20-day simple moving average (SMA20), while that difference is down -10.84% for SMA50 and it goes to 1.78% higher than SMA200.
Van Eck Associates Corp. acquired 66.32 million shares of New Gold Inc having value of about $96.83 million. Data submitted at the U.S SEC by Van Eck Associates Corp. revealed that the firm now holds 1.21 million shares in the company valued at close to $1479650.16, or have control over 1.86% stake in the company. New Gold Inc (AMEX: NGD) currently have 682.28M outstanding shares and institutions hold larger chunk of about 43.96% of that. Holding of mutual funds in the company is about 34.21% while other institutional holders and individual stake holders have control over 9.90% and — of the stake respectively.
The stock has a current market capitalization of $835.09M and its 3Y-monthly beta is at 1.49. It has posted earnings per share of -$0.08 in the same period. It has Quick Ratio of 1.00 while making debt-to-equity ratio of 0.46. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for NGD, volatility over the week remained 4.71% while standing at 4.65% over the month.
Analysts are in expectations that New Gold Inc (NGD) stock would likely to be making an EPS of $0.02 in the current quarter, while forecast for next quarter EPS is $0.03 and it is $0.15 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.01 which is $0.05 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.01 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 337.06% while it is estimated to increase by 69.06% in next year. EPS is likely to shrink at an annualized rate of 5.00% for next 5-years, compared to annual growth of 12.51% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Scotiabank on March 03, 2023 offering a Sector perform rating for the stock and assigned a target price of $1.25 to it.
