New Gold Inc. [NGD] fell -29.33% so far this year. What now?

New Gold Inc. [AMEX: NGD] jumped around 0.08 points on Tuesday, while shares priced at $1.06 at the close of the session, up 7.63%. The company report on November 3, 2022 that New Gold Reports 2022 Third Quarter Results.


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(All amounts are in U.S. dollars unless otherwise indicated).

New Gold Inc. (“New Gold” or the “Company”) (TSX: NGD) (NYSE American: NGD) reports third quarter results for the Company as of September 30, 2022. The Company will host a conference call and webcast today at 8:30 am Eastern Time to discuss the third quarter consolidated results (details are provided at the end of this news release). For detailed information, please refer to the Company’s third quarter Management’s Discussion and Analysis (MD&A) and Financial Statements that are available on the Company’s website at www.newgold.com and on SEDAR at www.sedar.com. The Company uses certain non-GAAP financial performance measures throughout this news release. Please refer to the “Non-GAAP Financial Performance Measures” section of this news release and the MD&A for more information. Numbered note references throughout this news release are to endnotes which can be found at the end of this news release.

New Gold Inc. stock is now -29.33% down from its year-to-date (YTD) trading value. NGD Stock saw the intraday high of $1.06 and lowest of $0.98 per share. The company’s 52-week high price is 2.02, which means current price is +73.49% above from all time high which was touched on 02/17/22.

Compared to the average trading volume of 2.96M shares, NGD reached a trading volume of 4838909 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $1.12 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 2.70. 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.

RBC Capital Mkts have made an estimate for New Gold Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 03, 2022. The new note on the price target was released on January 18, 2022, representing the official price target for New Gold Inc. stock. Previously, the target price had yet another drop from $1.75 to $1.50, while RBC Capital Mkts kept a Sector Perform rating on NGD stock.

The Average True Range (ATR) for New Gold Inc. is set at 0.07, with the Price to Sales ratio for NGD stock in the period of the last 12 months amounting to 1.50. The Price to Book ratio for the last quarter was 0.53, with the Price to Cash per share for the same quarter was set at 0.48.

How has NGD stock performed recently?

New Gold Inc. [NGD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.23. With this latest performance, NGD shares gained by 11.87% in over the last four-week period, additionally sinking by -16.54% over the last 6 months – not to mention a drop of -31.17% 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 65.49, with the RSI for the last a single of trading hit 70.59, and the three-weeks RSI is set at 62.02 for New Gold Inc. [NGD]. The present Moving Average for the last 50 days of trading for this stock 0.8590, while it was recorded at 0.9340 for the last single week of trading, and 1.2344 for the last 200 days.

New Gold Inc. [NGD]: Deeper insight into the 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 2.10 and a Current Ratio set at 2.80.

Earnings analysis for New Gold Inc. [NGD]

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%.

Insider trade positions for New Gold Inc. [NGD]

There are presently around $228 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 65,774,834, which is approximately -3.305% of the company’s market cap and around 0.31% of the total institutional ownership; INVESCO LTD., holding 18,217,181 shares of the stock with an approximate value of $19.31 million in NGD stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $17.84 million in NGD stock with ownership of nearly 3.711% 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 56 institutional holders increased their position in New Gold Inc. [AMEX:NGD] by around 13,850,651 shares. Additionally, 64 investors decreased positions by around 20,393,677 shares, while 57 investors held positions by with 181,223,494 shares. The mentioned changes placed institutional holdings at 215,467,822 shares, according to the latest SEC report filing. NGD stock had 16 new institutional investments in for a total of 3,452,315 shares, while 28 institutional investors sold positions of 3,533,957 shares during the same period.

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