New Gold Inc. [NGD] Is Currently -5.91 below its 200 Period Moving Avg: What Does This Mean?


New Gold Inc. [AMEX: NGD] closed the trading session at $1.75 on 03/28/22. The day’s price range saw the stock hit a low of $1.75, while the highest price level was $1.84. The company report on March 28, 2022 that New Gold Announces the Appointment of Patrick Godin as Chief Operating Officer.

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New Gold Inc. (“New Gold” or the “Company”) (TSX: NGD) (NYSE American: NGD) is pleased to announce the appointment of Patrick Godin as Executive Vice President and Chief Operating Officer, effective May 2, 2022. Patrick brings with him more than 30 years of technical and operations experience in the mining industry.

Most recently, Patrick was Vice President and Chief Operating Officer of Pretium Resources Inc. (“Pretivm”) until the sale of the company to Newcrest Mining Ltd. earlier this month. During his time at Pretivm, Patrick was responsible for the operations of the Brucejack Mine. Prior to Pretivm, Patrick was the President and Chief Executive Officer of Stornoway Diamond Corporation (“Stornoway”) from 2019 to 2020 and Chief Operating Officer and Vice President from 2010 to 2018. At Stornoway, Patrick was responsible for the construction and the operations of the Renard Diamond Mine, Quebec’s first diamond mine. His past experience also includes Vice President, Project Development for G Mining Services, where he focused on the development of mining projects in the Americas and West Africa.

The stocks have a year to date performance of 16.67 percent and weekly performance of -5.91 percent. The stock has been moved at 59.09 percent over the last six months. The stock has performed 2.94 percent around the most recent 30 days and changed 18.24 percent over the most recent 3-months.

If compared to the average trading volume of 9.42M shares, NGD reached to a volume of 5309898 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]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NGD shares is $1.84 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NGD stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Canaccord Genuity have made an estimate for New Gold Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 18, 2022. While these analysts kept the previous recommendation, RBC Capital Mkts dropped their target price from $1.75 to $1.50. The new note on the price target was released on September 08, 2021, 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 1.59. The Price to Book ratio for the last quarter was 1.25, with the Price to Cash per share for the same quarter was set at 0.80. Price to Free Cash Flow for NGD in the course of the last twelve months was 15.50 with Quick ratio for the last quarter at 3.40.

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 -5.91. With this latest performance, NGD shares gained by 2.94% in over the last four-week period, additionally plugging by 59.09% over the last 6 months – not to mention a rise of 8.02% 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 47.82, with the RSI for the last a single of trading hit 44.51, and the three-weeks RSI is set at 49.70 for New Gold Inc. [NGD]. The present Moving Average for the last 50 days of trading for this stock 1.7436, while it was recorded at 1.8200 for the last single week of trading, and 1.5311 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 +18.13 and a Gross Margin at +21.19. New Gold Inc.’s Net Margin is presently recorded at +18.78.

Return on Equity for this stock inclined to 15.93, with Return on Assets sitting at 5.88.

New Gold Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.40 and a Current Ratio set at 4.00.

Earnings per share (EPS) analysis for New Gold Inc. [NGD] stock

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 8.65%.

New Gold Inc. [NGD]: Insider Ownership positions

There are presently around $402 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 64,930,457, which is approximately -7.643% of the company’s market cap and around 3.60% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 16,359,669 shares of the stock with an approximate value of $28.63 million in NGD stocks shares; and SPROTT INC., currently with $24.24 million in NGD stock with ownership of nearly 484.372% 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 63 institutional holders increased their position in New Gold Inc. [AMEX:NGD] by around 42,957,035 shares. Additionally, 75 investors decreased positions by around 34,108,730 shares, while 56 investors held positions by with 152,451,115 shares. The mentioned changes placed institutional holdings at 229,516,880 shares, according to the latest SEC report filing. NGD stock had 23 new institutional investments in for a total of 7,572,835 shares, while 18 institutional investors sold positions of 5,240,265 shares during the same period.