New Gold Inc. [AMEX: NGD] gained 0.95% on the last trading session, reaching $1.06 price per share at the time. The company report on August 11, 2023 at 6:18 AM that NEW GOLD CONFIRMS STRUCTURAL INTEGRITY OF NEW AFTON TAILINGS STORAGE FACILITY.
Underground Mining Activities at New Afton Mine Have Resumed.
New Gold Inc. (“New Gold” or the “Company”) (TSX: NGD) (NYSE American: NGD) confirms the structural integrity of the New Afton tailings storage facility and announces resumption of all underground mining activities at its New Afton Mine, located in Kamloops B.C.
New Gold Inc. represents 683.20 million in outstanding shares, while the company has a total market value of $724.79 million with the latest information. NGD stock price has been found in the range of $1.04 to $1.08.
If compared to the average trading volume of 2.80M shares, NGD reached a trading volume of 3371888 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $1.35 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 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 1.04. The Price to Book ratio for the last quarter was 0.82, with the Price to Cash per share for the same quarter was set at 0.27.
Trading performance analysis for NGD stock
New Gold Inc. [NGD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.92. With this latest performance, NGD shares dropped by -4.50% in over the last four-week period, additionally plugging by 11.44% over the last 6 months – not to mention a rise of 60.61% 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 51.41, with the RSI for the last a single of trading hit 58.74, and the three-weeks RSI is set at 48.76 for New Gold Inc. [NGD]. The present Moving Average for the last 50 days of trading for this stock 1.0946, while it was recorded at 1.0300 for the last single week of trading, and 1.1125 for the last 200 days.
New Gold Inc. [NGD]: A deeper dive into fundamental analysis
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.
Reflecting on the efficiency of the workforce at the company, New Gold Inc. [NGD] managed to generate an average of -$55,110 per employee. 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 1.00 and a Current Ratio set at 1.70.
New Gold Inc. [NGD]: An earnings per share (EPS) analysis
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%.
An analysis of Institutional ownership at New Gold Inc. [NGD]
The top three institutional holders of NGD stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in NGD stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in NGD stock with ownership which is approximately 5.7381%.