New Gold Inc. [AMEX: NGD] stock went on a downward path that fall over -1.60% on Friday, amounting to a one-week price decrease of less than -6.09%. The company report on November 5, 2020 that New Gold Reports Third Quarter Financial Results.
On Track to Achieve Consolidated Annual Guidance with Lower AISC .
November 5, 2020– New Gold Inc. (“New Gold” or the “Company”) (TSX and NYSE American: NGD) reports third quarter results for the Company as of September 30, 2020 and reaffirms its revised annual consolidated guidance, with all-in sustaining costs expected to be below guidance levels, primarily due to lower sustaining capital spend. On July 30, 2020, the Company issued revised guidance estimates for 2020 to incorporate the impact of COVID-19 and readers should refer to the Company’s July 30, 2020 news release for further information. An earnings conference call and webcast will begin at 8:30 am Eastern Time today to discuss the third quarter financial results. (Details provided at the end of this news release.).
Over the last 12 months, NGD stock rose by 112.64%. The average equity rating for NGD stock is currently 2.70, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $1.26 billion, with 676.00 million shares outstanding and 674.69 million shares in the current float. Compared to the average trading volume of 7.67M shares, NGD stock reached a trading volume of 5504302 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on New Gold Inc. [NGD]:
CIBC have made an estimate for New Gold Inc. shares, keeping their opinion on the stock as Sector Outperform, with their previous recommendation back on September 16, 2020. The new note on the price target was released on March 18, 2020, representing the official price target for New Gold Inc. stock.
The Average True Range (ATR) for New Gold Inc. is set at 0.12, with the Price to Sales ratio for NGD stock in the period of the last 12 months amounting to 2.15. The Price to Book ratio for the last quarter was 1.48, with the Price to Cash per share for the same quarter was set at 0.61.
NGD Stock Performance Analysis:
New Gold Inc. [NGD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.09. With this latest performance, NGD shares dropped by -12.32% in over the last four-week period, additionally plugging by 79.61% over the last 6 months – not to mention a rise of 112.64% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NGD stock in for the last two-week period is set at 37.07, with the RSI for the last a single of trading hit 29.68, and the three-weeks RSI is set at 44.47 for New Gold Inc. [NGD]. The present Moving Average for the last 50 days of trading for this stock 1.9412, while it was recorded at 1.9000 for the last single week of trading, and 1.3055 for the last 200 days.
Insight into New Gold Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and New Gold Inc. [NGD] shares currently have an operating margin of -1.14 and a Gross Margin at +1.74. New Gold Inc.’s Net Margin is presently recorded at -11.61.
Return on Total Capital for NGD is now -0.42, given the latest momentum, and Return on Invested Capital for the company is -4.26. Return on Equity for this stock declined to -7.63, with Return on Assets sitting at -3.39. When it comes to the capital structure of this company, New Gold Inc. [NGD] has a Total Debt to Total Equity ratio set at 77.72. Additionally, NGD Total Debt to Total Capital is recorded at 43.73, with Total Debt to Total Assets ending up at 34.61. Long-Term Debt to Equity for the company is recorded at 76.81, with the Long-Term Debt to Total Capital now at 43.22.
Reflecting on the efficiency of the workforce at the company, New Gold Inc. [NGD] managed to generate an average of -$72,945 per employee. Receivables Turnover for the company is 18.36 with a Total Asset Turnover recorded at a value of 0.29.New Gold Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.60 and a Current Ratio set at 3.10.
NGD Stock EPS
With the latest financial reports released by the company, New Gold Inc. posted 0.02/share EPS, while the average EPS was predicted by analysts to be reported at 0.01/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 100.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NGD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for New Gold Inc. go to 5.00%.
New Gold Inc. [NGD] Insider Position Details
There are presently around $506 million, or 55.10% of NGD stock, in the hands of institutional investors. The top three institutional holders of NGD stocks are: VAN ECK ASSOCIATES CORP with ownership of 71,276,983, which is approximately 13.016% of the company’s market cap and around 3.60% of the total institutional ownership; KOPERNIK GLOBAL ALL-CAP FUND, LP, holding 43,627,115 shares of the stock with an approximate value of $80.71 million in NGD stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $40.64 million in NGD stock with ownership of nearly 2.273% of the company’s market capitalization.
Positions in New Gold Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 64 institutional holders increased their position in New Gold Inc. [AMEX:NGD] by around 79,885,178 shares. Additionally, 46 investors decreased positions by around 58,580,499 shares, while 38 investors held positions by with 135,079,287 shares. The mentioned changes placed institutional holdings at 273,544,964 shares, according to the latest SEC report filing. NGD stock had 23 new institutional investments in for a total of 55,258,177 shares, while 15 institutional investors sold positions of 4,908,147 shares during the same period.