Analyzing New Gold Inc. (NGD) By Technical Indicators

As of Thursday close, New Gold Inc.’s (AMEX:NGD) stock was down -$0.04, moving down -3.67 percent to $1.05. The average number of shares traded per day over the past five days has been 4,215,380 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.1300 fall in that time frame. In the last twenty days, the average volume was 3,358,245, while in the previous 50 days, it was 2,850,698.

Since last month, NGD stock retreated -0.94%. Shares of the company fell to $1.0000 on 11/09/22, the lowest level in the past month. A 52-week high of $2.02 was reached on 02/17/22 after having rallying from a 52-week low of $0.61. Since the beginning of this year, NGD’s stock price has dropped by -30.00% or -$0.4500, and marked a new high 11 times. However, the stock has declined by -48.02% since its 52-week high.

Valuation Metrics

Right now, New Gold Inc. (NGD) has a P/E ratio of about 6.18. The stock’s beta is 1.39. Besides these, the trailing price-to-sales (P/S) ratio of 1.05, the price-to-book (PB) ratio of 0.70.

Financial Health

In the three months ended June 29, New Gold Inc.’s quick ratio stood at 1.70, while its current ratio was 2.30, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.39, and the total debt-to-equity ratio was 0.40. Based on annual data, NGD earned $368.2 million in gross profit and brought in $745.5 million in revenue.

In New Gold Inc.’s quarter-end financial report for June 29, it reported total debt of $9.4 million against cash and short-term investments of $4.3 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. NGD’s revenue rose 0.02% during the quarter, while net income inched up to $604.5 million. While analysts expected New Gold Inc. to report -$0.02 quarterly earnings, the actual figure was -$0.02 per share. During the quarter, the company generated $44.3 million in EBITDA. The liabilities of New Gold Inc. were 1.23 billion at the end of its most recent quarter ended June 29, and its total debt was $409.8 million.

Technical Picture

This quick technical analysis looks at New Gold Inc.’s (NGD) price momentum. With a historical volatility rate of 91.38%, the RSI 9-day stood at 44.73% on 08 December.

With respect to its five-day moving average, the current New Gold Inc. price is down by -11.02% percent or -$0.1300. At present, NGD shares trade +5.00% above its 20-day simple moving average and +49.40% percent above its 100-day simple moving average. However, the stock is currently trading approximately +25.00% above its SMA50 and -37.13% below its SMA200.

Stochastic coefficient K was 21.74% and Stochastic coefficient D was 38.16%, while ATR was 0.0868. Given the Stochastic reading of 13.04% for the 14-day period, the RSI (14) reading has been calculated as 48.69%. As of today, the MACD Oscillator reading stands at -0.0400, while the 14-day reading stands at -0.0457.

Analyst Ratings

New Gold Inc. downgraded its rating on New Gold Inc. (AMEX: NGD) to a Reduce in a note to investors on December 06, 2022. The analysts firm previously had a Hold rating on the stock.New Gold Inc. (NGD) has been rated Hold by analysts. According to 1 brokerage firm, NGD is a sell, and 5 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 0 analysts rate New Gold Inc. stock as buy, with 4 recommending it as overweight.

With a median target price of $1.20, the current consensus forecast for the stock is $0.85 – $2.00. Based on these forecasts, analysts predict New Gold Inc. (NGD) will achieve an average price target of $1.25.

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