TD Securities lifts New Gold Inc. [NGD] price estimate. Who else is bullish?

New Gold Inc. [AMEX: NGD] slipped around -0.01 points on Thursday, while shares priced at $0.87 at the close of the session, down -1.11%. The company report on February 16, 2023 that New Gold Achieves Updated 2022 Guidance and Reports Fourth Quarter and Full Year 2022 Results.

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Provides 2023 Operational Outlook and Updated Mineral Reserves and Resources.

New Gold Inc. stock is now -11.02% down from its year-to-date (YTD) trading value. NGD Stock saw the intraday high of $0.88 and lowest of $0.85 per share. The company’s 52-week high price is 1.99, which means current price is +2.35% above from all time high which was touched on 02/01/23.

Compared to the average trading volume of 3.16M shares, NGD reached a trading volume of 3289541 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 $1.22 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 2.80. 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.

TD Securities have made an estimate for New Gold Inc. shares, keeping their opinion on the stock as Reduce, with their previous recommendation back on December 06, 2022. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price from $1 to $1.25. The new note on the price target was released on October 03, 2022, representing the official price target for New Gold Inc. stock. On September 08, 2021, analysts decreased their price target for NGD shares from 1.75 to 1.50.

The Average True Range (ATR) for New Gold Inc. is set at 0.06, 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 0.46, with the Price to Cash per share for the same quarter was set at 0.35.

How has NGD stock performed recently?

New Gold Inc. [NGD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.04. With this latest performance, NGD shares dropped by -25.47% in over the last four-week period, additionally plugging by 25.47% over the last 6 months – not to mention a drop of -53.37% 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 24.31, with the RSI for the last a single of trading hit 14.00, and the three-weeks RSI is set at 32.15 for New Gold Inc. [NGD]. The present Moving Average for the last 50 days of trading for this stock 1.0559, while it was recorded at 0.9136 for the last single week of trading, and 0.9992 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 -2.57 and a Gross Margin at +1.29. New Gold Inc.’s Net Margin is presently recorded at -11.01.

Return on Equity for this stock declined to -6.94, with Return on Assets sitting at -2.82.

New Gold Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 2.20.

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 5.00%.

Insider trade positions for New Gold Inc. [NGD]

There are presently around $198 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 66,282,805, which is approximately 0.772% of the company’s market cap and around 0.31% of the total institutional ownership; CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD., holding 16,144,682 shares of the stock with an approximate value of $14.08 million in NGD stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $12.43 million in NGD stock with ownership of nearly -7.452% of the company’s market capitalization.

Positions in New Gold Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 63 institutional holders increased their position in New Gold Inc. [AMEX:NGD] by around 32,895,302 shares. Additionally, 59 investors decreased positions by around 40,221,689 shares, while 45 investors held positions by with 154,013,867 shares. The mentioned changes placed institutional holdings at 227,130,858 shares, according to the latest SEC report filing. NGD stock had 23 new institutional investments in for a total of 9,979,502 shares, while 19 institutional investors sold positions of 8,068,291 shares during the same period.


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