A Guide To The Risks Of Investing In New Gold Inc. (NGD)


Taking this into account, PT values the company’s stock at a premium of 28.0 to its Tuesday closing price. A number of analysts have revised their coverage, including TD Securities’s analysts, who decreased its forecast for the stock in early December from “a Hold” to “a Reduce”. RBC Capital Mkts also remained covering NGD and has increased its forecast on October 03, 2022 with a “an Outperform” recommendation from previously “Sector perform” rating. Canaccord Genuity revised its rating on January 18, 2022. It rated NGD as “a Hold” which previously was an “a Buy”.

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Price Performance Review of NGD

On Tuesday, New Gold Inc. [AMEX:NGD] saw its stock fall -0.21% to $0.90. On the same session, the stock had its day’s lowest price of $0.86, but rose to a high of $0.91. Over the last five days, the stock has lost -1.81%. New Gold Inc. shares have fallen nearly -8.36% since the year began. Nevertheless, the stocks have fallen -49.26% over the past one year. While a 52-week high of $1.99 was reached on 02/01/23, a 52-week low of $0.61 was recorded on 02/24/23. SMA at 50 days reached $1.0391, while 200 days put it at $0.9852. A total of 2.79 million shares were traded, compared to the trading of 2.58 million shares in the previous session.

Levels Of Support And Resistance For NGD Stock

The 24-hour chart illustrates a support level at 0.8707, which if violated will result in even more drops to 0.8432. On the upside, there is a resistance level at 0.9168. A further resistance level may holdings at 0.9354. The Relative Strength Index (RSI) on the 14-day chart is 35.82, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0087, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 65.40%. Stochastics %K at 38.88% indicates the stock is a holding.

How much short interest is there in New Gold Inc.?

A steep rise in short interest was recorded in New Gold Inc. stocks on Jan 12, 2023, growing by 1.13 million shares to a total of 4.4 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 3.27 million shares. There was a rise of 25.68%, which implies that there is a positive sentiment for the stock.

New Gold Inc. [NGD] – Who Are The Largest Shareholders?

In filings from Van Eck Associates Corp., it is revealed that the company now owns 66,282,805 shares, or roughly 9.72% of the outstanding NGD shares. In other words, the investor’s shares have risen by 507,971 from its previous 13-F filing of 65774834.0. Additionally, AzValor Asset Management SGIIC SA increased 24.27% of its stake after which the total value it holdings stand at $67,759,909, while Connor, Clark & Lunn Investment M added 17.88% of its stake to hold $19.05 million in the firm. Over the last quarter, Renaissance Technologies LLC sold -1,147,700 shares of New Gold Inc., while Sprott Asset Management LP sold -12,386 shares. At present, Amundi Asset Management SA is holding 10,480,900 shares valued at $12.37 million. Amundi Asset Management US, Inc. owned 10,454,153 shares of the company at the time of its most recent 13F filing, worth $12.34 million.


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