New Gold Inc. [AMEX: NGD] closed the trading session at $1.75 on 11/25/20. The day’s price range saw the stock hit a low of $1.71, while the highest price level was $1.81. The company report on November 23, 2020 that New Gold Announces Partial Redemption of Outstanding 6.375% Senior Notes.
(All dollar figures are in US dollars unless otherwise indicated).
November 23, 2020 – New Gold Inc. (“New Gold” or the “Company”) (TSX and NYSE American:NGD) announced that, pursuant to the terms of the indenture governing its 6.375% Senior Notes due 2025 (the “2025 Notes”), it has issued a notice of redemption to redeem $200 million aggregate principal amount of the outstanding 2025 Notes on December 23, 2020. The redemption of the 2025 Notes will be funded with cash on hand.
The stocks have a year to date performance of 98.86 percent and weekly performance of -2.78 percent. The stock has been moved at 44.63 percent over the last six months. The stock has performed -19.35 percent around the most recent 30 days and changed 12.18 percent over the most recent 3-months.
If compared to the average trading volume of 7.68M shares, NGD reached to a volume of 4096253 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about 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 0.11, with the Price to Sales ratio for NGD stock in the period of the last 12 months amounting to 1.98. The Price to Book ratio for the last quarter was 1.40, with the Price to Cash per share for the same quarter was set at 0.63.
NGD stock trade performance evaluation
New Gold Inc. [NGD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.78. With this latest performance, NGD shares dropped by -19.35% in over the last four-week period, additionally plugging by 44.63% over the last 6 months – not to mention a rise of 119.41% 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 38.37, with the RSI for the last a single of trading hit 31.46, and the three-weeks RSI is set at 41.10 for New Gold Inc. [NGD]. The present Moving Average for the last 50 days of trading for this stock 1.9290, while it was recorded at 1.7640 for the last single week of trading, and 1.3427 for the last 200 days.
New Gold Inc. [NGD]: An insightful look at the core 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.
Earnings per share (EPS) analysis for New Gold Inc. [NGD] stock
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 Ownership positions
There are presently around $494 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 $76.35 million in NGD stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $38.44 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 68 institutional holders increased their position in New Gold Inc. [AMEX:NGD] by around 82,224,392 shares. Additionally, 45 investors decreased positions by around 54,829,170 shares, while 37 investors held positions by with 145,494,889 shares. The mentioned changes placed institutional holdings at 282,548,451 shares, according to the latest SEC report filing. NGD stock had 20 new institutional investments in for a total of 52,175,193 shares, while 15 institutional investors sold positions of 4,786,686 shares during the same period.