Market cap of New Gold Inc. [NGD] reaches 1.12B – now what?

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New Gold Inc. [AMEX: NGD] stock went on a downward path that fall over -2.36% on Wednesday, amounting to a one-week price decrease of less than -15.65%. The company report on May 4, 2022 that New Gold Announces Results Of Vote For Election Of Board Of Directors.

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New Gold Inc. (“New Gold” or the “Company”) (TSX: NGD) (NYSE American: NGD) today announces the voting results from the election of its Board of Directors at New Gold’s Annual General Meeting of Shareholders (the “Meeting”) held on May 3, 2022, as set out below.

Over the last 12 months, NGD stock dropped by -29.55%. The one-year New Gold Inc. stock forecast points to a potential upside of 32.61. The average equity rating for NGD stock is currently 2.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.12 billion, with 681.30 million shares outstanding and 680.33 million shares in the current float. Compared to the average trading volume of 7.62M shares, NGD stock reached a trading volume of 5761227 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]:

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 0.10, with the Price to Sales ratio for NGD stock in the period of the last 12 months amounting to 1.15. The Price to Book ratio for the last quarter was 0.70, with the Price to Cash per share for the same quarter was set at 0.71. Price to Free Cash Flow for NGD in the course of the last twelve months was 12.57 with Quick ratio for the last quarter at 3.70.

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 -15.65. With this latest performance, NGD shares dropped by -32.24% in over the last four-week period, additionally sinking by -21.52% over the last 6 months – not to mention a drop of -29.55% 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 28.24, with the RSI for the last a single of trading hit 24.30, and the three-weeks RSI is set at 32.30 for New Gold Inc. [NGD]. The present Moving Average for the last 50 days of trading for this stock 1.6944, while it was recorded at 1.2980 for the last single week of trading, and 1.5098 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 +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 3.70 and a Current Ratio set at 4.40.

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 8.65%.

New Gold Inc. [NGD] Insider Position Details

There are presently around $283 million, or 60.90% 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 69,315,986, which is approximately 6.754% of the company’s market cap and around 0.23% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 16,359,669 shares of the stock with an approximate value of $20.78 million in NGD stocks shares; and SPROTT INC., currently with $17.59 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 May and at the time of the May reporting period, where 66 institutional holders increased their position in New Gold Inc. [AMEX:NGD] by around 47,799,347 shares. Additionally, 64 investors decreased positions by around 25,197,956 shares, while 64 investors held positions by with 150,209,896 shares. The mentioned changes placed institutional holdings at 223,207,199 shares, according to the latest SEC report filing. NGD stock had 20 new institutional investments in for a total of 8,351,696 shares, while 19 institutional investors sold positions of 4,018,990 shares during the same period.