New Gold Inc. [NGD] Is Currently -2.00 below its 200 Period Moving Avg: What Does This Mean?

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New Gold Inc. [AMEX: NGD] price plunged by -2.00 percent to reach at -$0.03. The company report on December 22, 2021 that New Gold Announces Closing of Blackwater Gold Stream for US$300 Million.

New Gold Inc. (“New Gold” or the “Company”) (TSX: NGD) and (NYSE American: NGD) today reports that it has closed the previously announced sale of the gold stream held on the Blackwater Project (“Blackwater”) located in British Columbia, Canada to Wheaton Precious Metals Corp. for US$300 million. Blackwater is wholly-owned by Artemis Gold Inc. (“Artemis”), with New Gold having retained the gold stream as partial consideration for the divestiture of Blackwater to Artemis on August 21, 2020.


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About New Gold New Gold is a Canadian-focused intermediate mining Company with a portfolio of two core producing assets in Canada, the Rainy River gold mine and the New Afton copper-gold mine. The Company also holds a 5% equity stake in Artemis Gold Inc. and other Canadian-focused investments. New Gold’s vision is to build a leading diversified intermediate gold company based in Canada that is committed to environment and social responsibility. For further information on the Company, visit www.newgold.com.

A sum of 5190325 shares traded at recent session while its average daily volume was at 8.88M shares. New Gold Inc. shares reached a high of $1.48 and dropped to a low of $1.41 until finishing in the latest session at $1.47.

The average equity rating for NGD stock is currently 2.70, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on New Gold Inc. [NGD]:

RBC Capital Mkts have made an estimate for New Gold Inc. shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on September 08, 2021. The new note on the price target was released on August 11, 2021, representing the official price target for New Gold Inc. stock.

The Average True Range (ATR) for New Gold Inc. is set at 0.09, with the Price to Sales ratio for NGD stock in the period of the last 12 months amounting to 1.30. The Price to Book ratio for the last quarter was 1.20, with the Price to Cash per share for the same quarter was set at 0.31. Price to Free Cash Flow for NGD in the course of the last twelve months was 53.62 with Quick ratio for the last quarter at 1.70.

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 -0.68. With this latest performance, NGD shares gained by 6.52% in over the last four-week period, additionally sinking by -16.95% over the last 6 months – not to mention a drop of -37.45% 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 50.99, with the RSI for the last a single of trading hit 51.47, and the three-weeks RSI is set at 50.96 for New Gold Inc. [NGD]. The present Moving Average for the last 50 days of trading for this stock 1.4916, while it was recorded at 1.4900 for the last single week of trading, and 1.5667 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 +9.55 and a Gross Margin at +12.94. New Gold Inc.’s Net Margin is presently recorded at -12.41.

Return on Total Capital for NGD is now 4.22, given the latest momentum, and Return on Invested Capital for the company is -5.51. Return on Equity for this stock declined to -9.45, with Return on Assets sitting at -3.75. When it comes to the capital structure of this company, New Gold Inc. [NGD] has a Total Debt to Total Equity ratio set at 65.67. Additionally, NGD Total Debt to Total Capital is recorded at 39.64, with Total Debt to Total Assets ending up at 23.03. Long-Term Debt to Equity for the company is recorded at 64.45, with the Long-Term Debt to Total Capital now at 38.90.

Reflecting on the efficiency of the workforce at the company, New Gold Inc. [NGD] managed to generate an average of -$66,896 per employee. Receivables Turnover for the company is 12.25 with a Total Asset Turnover recorded at a value of 0.30.New Gold Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 2.40.

NGD Stock EPS

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 9.61%.

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New Gold Inc. [NGD] Insider Position Details

There are presently around $329 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 70,303,748, which is approximately -2.471% of the company’s market cap and around 3.60% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 16,583,280 shares of the stock with an approximate value of $24.88 million in NGD stocks shares; and CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD., currently with $19.34 million in NGD stock with ownership of nearly -3.153% of the company’s market capitalization.

Positions in New Gold Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 58 institutional holders increased their position in New Gold Inc. [AMEX:NGD] by around 13,539,950 shares. Additionally, 72 investors decreased positions by around 25,549,726 shares, while 56 investors held positions by with 180,505,375 shares. The mentioned changes placed institutional holdings at 219,595,051 shares, according to the latest SEC report filing. NGD stock had 26 new institutional investments in for a total of 7,744,309 shares, while 16 institutional investors sold positions of 5,514,895 shares during the same period.