New Gold Inc. [NGD] is -21.33% lower this YTD. Is it still time to buy?

New Gold Inc. [AMEX: NGD] price surged by 6.31 percent to reach at $0.07. The company report on November 23, 2022 that NEW GOLD ANNOUNCES THE APPOINTMENT OF PATRICK GODIN AS PRESIDENT AND CEO.

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New Gold Inc. (“New Gold” or the “Company”) (TSX: NGD) (NYSE American: NGD) has appointed Patrick Godin as its new President and Chief Executive Officer, effective immediately. Mr. Godin succeeds Renaud Adams, who has served as CEO since September 2018.

Mr. Godin has been New Gold’s Executive Vice President and Chief Operating Officer since his appointment in May 2022. Mr. Godin has more than 30 years of technical and operations experience in the mining industry, with a focus on mine development and operations. Prior to his role with the Company, Mr. Godin worked in various executive roles in the mining sector, including as President and Chief Executive Officer of Stornoway Diamond Corporation. During his time at Stornoway, Mr. Godin was responsible for the construction and operations of the Renard Diamond Mine, Quebec’s first diamond mine. Mr. Godin has also held roles as Vice President and Chief Operating Officer of Pretium Resources Inc. and Vice President, Project Development for G Mining Services, where he worked on the development of various mining projects in the Americas and West Africa.

A sum of 6006555 shares traded at recent session while its average daily volume was at 3.27M shares. New Gold Inc. shares reached a high of $1.19 and dropped to a low of $1.13 until finishing in the latest session at $1.18.

The one-year NGD stock forecast points to a potential downside of -3.51. 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]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NGD shares is $1.14 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 1.30. The Price to Book ratio for the last quarter was 0.79, with the Price to Cash per share for the same quarter was set at 0.39.

NGD Stock Performance Analysis:

New Gold Inc. [NGD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.42. With this latest performance, NGD shares gained by 28.27% in over the last four-week period, additionally sinking by -18.06% over the last 6 months – not to mention a drop of -14.49% 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 60.73, with the RSI for the last a single of trading hit 61.98, and the three-weeks RSI is set at 59.76 for New Gold Inc. [NGD]. The present Moving Average for the last 50 days of trading for this stock 0.9668, while it was recorded at 1.1040 for the last single week of trading, and 1.1885 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 1.70 and a Current Ratio set at 2.30.

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 $257 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 65,774,834, which is approximately -3.305% of the company’s market cap and around 3.60% of the total institutional ownership; INVESCO LTD., holding 18,223,006 shares of the stock with an approximate value of $21.5 million in NGD stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $18.17 million in NGD stock with ownership of nearly -8.498% of the company’s market capitalization.

48 institutional holders increased their position in New Gold Inc. [AMEX:NGD] by around 35,943,787 shares. Additionally, 75 investors decreased positions by around 39,270,337 shares, while 54 investors held positions by with 142,587,278 shares. The mentioned changes placed institutional holdings at 217,801,402 shares, according to the latest SEC report filing. NGD stock had 20 new institutional investments in for a total of 17,588,955 shares, while 33 institutional investors sold positions of 15,307,942 shares during the same period.

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