New Gold Inc. [AMEX: NGD] closed the trading session at $1.29 on 04/27/23. The day’s price range saw the stock hit a low of $1.24, while the highest price level was $1.34. The company report on April 26, 2023 at 5:15 PM that New Gold Reports 2023 First Quarter Results.
(All amounts are in U.S. dollars unless otherwise indicated).
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New Gold Inc. (“New Gold” or the “Company”) (TSX: NGD) (NYSE American: NGD) reports first quarter results for the Company as of March 31, 2023. The Company will host a conference call and webcast tomorrow, April 27, 2023 at 8:30 am Eastern Time to discuss the first quarter consolidated results (details are provided at the end of this news release). For detailed information, please refer to the Company’s Management’s Discussion and Analysis (“MD&A”) and financial statements for the quarter ended March 31, 2023 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.
The stocks have a year to date performance of 31.63 percent and weekly performance of 0.00 percent. The stock has been moved at 39.23 percent over the last six months. The stock has performed 15.18 percent around the most recent 30 days and changed 8.40 percent over the most recent 3-months.
If compared to the average trading volume of 3.87M shares, NGD reached to a volume of 3136365 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 $1.27 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 1.97. The Price to Book ratio for the last quarter was 0.68, 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 0.00. With this latest performance, NGD shares gained by 15.18% in over the last four-week period, additionally plugging by 39.23% over the last 6 months – not to mention a drop of -11.03% 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 61.82, with the RSI for the last a single of trading hit 59.79, and the three-weeks RSI is set at 61.62 for New Gold Inc. [NGD]. The present Moving Average for the last 50 days of trading for this stock 1.0571, while it was recorded at 1.2860 for the last single week of trading, and 0.9643 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 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 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 $303 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 0.35% of the total institutional ownership; CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD., holding 16,144,682 shares of the stock with an approximate value of $20.83 million in NGD stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $18.39 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 70 institutional holders increased their position in New Gold Inc. [AMEX:NGD] by around 39,323,007 shares. Additionally, 55 investors decreased positions by around 32,823,842 shares, while 43 investors held positions by with 162,498,055 shares. The mentioned changes placed institutional holdings at 234,644,904 shares, according to the latest SEC report filing. NGD stock had 31 new institutional investments in for a total of 16,547,152 shares, while 14 institutional investors sold positions of 1,554,733 shares during the same period.