Market Analysts see New Gold Inc. [NGD] gaining to $1.25. Time to buy?

New Gold Inc. [AMEX: NGD] jumped around 0.01 points on Tuesday, while shares priced at $1.32 at the close of the session, up 0.76%. The company report on April 11, 2023 that New Gold Announces Senior Management Appointments and Strengthens Technical Leadership Team.

New Gold appoints Yohann Bouchard as Executive Vice President and Chief Operating Officer and promotes Ankit Shah to Executive Vice President, Strategy and Business Development.

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New Gold Inc. (“New Gold” or the “Company”) (TSX: NGD) (NYSE American: NGD) is pleased to announce the appointment of Yohann Bouchard as Executive Vice President and Chief Operating Officer, and the promotion of Ankit Shah to Executive Vice President, Strategy and Business Development. New Gold also announces the appointment of Luke Buchanan as Vice President, Technical Services and Jean-François Ravenelle as Vice President, Geology.

New Gold Inc. stock is now 34.69% up from its year-to-date (YTD) trading value. NGD Stock saw the intraday high of $1.36 and lowest of $1.29 per share. The company’s 52-week high price is 1.99, which means current price is +60.98% above from all time high which was touched on 04/14/23.

Compared to the average trading volume of 3.81M shares, NGD reached a trading volume of 4118865 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 $1.18 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 0.07, with the Price to Sales ratio for NGD stock in the period of the last 12 months amounting to 1.52. The Price to Book ratio for the last quarter was 0.94, with the Price to Cash per share for the same quarter was set at 0.34.

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 3.13. With this latest performance, NGD shares gained by 48.31% in over the last four-week period, additionally plugging by 50.38% over the last 6 months – not to mention a drop of -30.53% 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 68.06, with the RSI for the last a single of trading hit 68.13, and the three-weeks RSI is set at 66.18 for New Gold Inc. [NGD]. The present Moving Average for the last 50 days of trading for this stock 1.0227, while it was recorded at 1.3400 for the last single week of trading, and 0.9549 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 Total Capital for NGD is now -1.10, given the latest momentum, and Return on Invested Capital for the company is -4.73. Return on Equity for this stock declined to -6.94, with Return on Assets sitting at -2.82. When it comes to the capital structure of this company, New Gold Inc. [NGD] has a Total Debt to Total Equity ratio set at 42.19. Additionally, NGD Total Debt to Total Capital is recorded at 29.67, with Total Debt to Total Assets ending up at 18.04. Long-Term Debt to Equity for the company is recorded at 41.29, with the Long-Term Debt to Total Capital now at 29.04.

Receivables Turnover for the company is 28.03 with a Total Asset Turnover recorded at a value of 0.26.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 $307 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 66,282,805, which is approximately 0.772% of the company’s market cap and around 3.60% of the total institutional ownership; CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD., holding 16,144,682 shares of the stock with an approximate value of $21.15 million in NGD stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $18.67 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 Wednesday and at the time of the Wednesday reporting period, where 64 institutional holders increased their position in New Gold Inc. [AMEX:NGD] by around 39,299,997 shares. Additionally, 59 investors decreased positions by around 33,828,003 shares, while 45 investors held positions by with 161,516,234 shares. The mentioned changes placed institutional holdings at 234,644,234 shares, according to the latest SEC report filing. NGD stock had 26 new institutional investments in for a total of 16,528,264 shares, while 19 institutional investors sold positions of 1,698,505 shares during the same period.


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