New Gold Inc. [AMEX: NGD] closed the trading session at $0.87 on 03/13/23. The day’s price range saw the stock hit a low of $0.84, while the highest price level was $0.92. 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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The stocks have a year to date performance of -11.06 percent and weekly performance of -3.16 percent. The stock has been moved at 11.05 percent over the last six months. The stock has performed -14.55 percent around the most recent 30 days and changed -16.99 percent over the most recent 3-months.
If compared to the average trading volume of 2.84M shares, NGD reached to a volume of 8609008 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 $1.15 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.
Scotiabank have made an estimate for New Gold Inc. shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on March 03, 2023. The new note on the price target was released on December 06, 2022, representing the official price target for New Gold Inc. stock. Previously, the target price had yet another raise from $1 to $1.25, while RBC Capital Mkts kept a Outperform rating on NGD stock.
The Average True Range (ATR) for New Gold Inc. is set at 0.05, with the Price to Sales ratio for NGD stock in the period of the last 12 months amounting to 1.35. The Price to Book ratio for the last quarter was 0.45, with the Price to Cash per share for the same quarter was set at 0.35.
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 -3.16. With this latest performance, NGD shares dropped by -14.55% in over the last four-week period, additionally plugging by 11.05% over the last 6 months – not to mention a drop of -54.37% 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 33.76, with the RSI for the last a single of trading hit 31.76, and the three-weeks RSI is set at 36.86 for New Gold Inc. [NGD]. The present Moving Average for the last 50 days of trading for this stock 1.0280, while it was recorded at 0.8804 for the last single week of trading, and 0.9758 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 -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 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 5.00%.
New Gold Inc. [NGD]: Insider Ownership positions
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.
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.