AzValor Asset Management SGIIC SA has recently announced that it has increased stake in New Gold Inc. (AMEX:NGD) by 19.35%. After grabbing 55.89 million shares, the institutional investor is now in possession of 9.06 million shares of the Basic Materials Company. The new investment brought the stake of investor firm to 8.19% having worth around $49.97 million. Moreover, Amundi Deutschland GmbH increased its share by 12.05 million to have a control over 12.23 million shares. And Edgepoint Investment Group, Inc. raised its holdings to 10.73 million shares by acquiring 10.73 million shares or 1.57% of the stake.
New Gold Inc. (NGD) concluded trading on 11/23/22 at a closing price of $1.13, with 5.1 million shares of worth about $5.77 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -16.30% during that period and on Wednesday the price saw a loss of about -5.04%. Currently the company’s common shares owned by public are about 682.30M shares, out of which, 680.14M shares are available for trading.
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 45.62 million shares of worth totaling $40.78 million. The company recently came buying 7.6 million shares which brought its stake up to 6.69% of the company’s outstanding shares. VanEck Gold Miners ETF sold 35968.0 shares, after which its hold over company’s outstanding shares shrunk to 5.39%, leaving 36.78 million shares with the mutual fund that have a worth of about $32.88 million. VanEck Junior Gold Miners ETF, after buying 24.99 million shares, have now control over 3.66% of the stake in the company. It holds 0.0 shares of worth $22.34 million.
However, the stock later moved at a day high price of 1.1900, or with a loss of -5.04%. Stock saw a price change of 1.80% in past 5 days and over the past one month there was a price change of 21.96%. Year-to-date (YTD), NGD shares are showing a performance of -24.67% which decreased to -27.56% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.61 but also hit the highest price of $2.02 during that period. The average intraday trading volume for New Gold Inc. shares is 3.17 million. The stock is currently trading 11.34% above its 20-day simple moving average (SMA20), while that difference is up 20.29% for SMA50 and it goes to -6.56% lower than SMA200.
AzValor Asset Management SGIIC SA acquired 55.89 million shares of New Gold Inc. having value of about $49.97 million. Data submitted at the U.S SEC by AzValor Asset Management SGIIC SA revealed that the firm now holds 9.06 million shares in the company valued at close to $10240388.83, or have control over 19.35% stake in the company. New Gold Inc. (AMEX: NGD) currently have 682.30M outstanding shares and institutions hold larger chunk of about 60.90% of that. Holding of mutual funds in the company is about 37.63% while other institutional holders and individual stake holders have control over 9.94% and — of the stake respectively.
The stock has a current market capitalization of $995.22M and its 3Y-monthly beta is at 1.59. PE ratio of stock for trailing 12 months is 7.06, while it has posted earnings per share of $0.16 in the same period. Its PEG reads 0.82 and has Quick Ratio of 1.70 while making debt-to-equity ratio of 0.40. 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 8.10% while standing at 6.75% over the month.
Analysts are in expectations that New Gold Inc. (NGD) stock would likely to be making an EPS of -$0.01 in the current quarter, while forecast for next quarter EPS is -$0.01 and it is $0.1 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.03 which is $0.01 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 $0.03 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -133.30% while it is estimated to increase by 350.00% in next year. EPS is likely to grow at an annualized rate of 8.65% for next 5-years, compared to annual growth of 2.78% 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 RBC Capital Mkts on October 03, 2022 offering an Outperform rating for the stock and assigned a target price range of between $1 and $1.25 to it. Stock get a Neutral rating from CIBC on February 03, 2021.