So Far This Year, New Gold Inc. (NGD) Reached A New High 2 times


As of Friday close, New Gold Inc.’s (AMEX:NGD) stock was up $0.05, moving up 6.17 percent to $0.89. The average number of shares traded per day over the past five days has been 11,258,600 shares. 2 times new highs have been achieved over the past 5 days, with a $0.0100 gain in that time frame. In the last twenty days, the average volume was 4,661,660, while in the previous 50 days, it was 3,501,576.

Since last month, NGD stock retreated -9.20%. Shares of the company fell to $0.8200 on 03/16/23, the lowest level in the past month. A 52-week high of $1.99 was reached on 02/01/23 after having rallying from a 52-week low of $0.61. Since the beginning of this year, NGD’s stock price has dropped by -9.18% or -$0.0900, and marked a new high 12 times. However, the stock has declined by -55.28% since its 52-week high.

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Valuation Metrics

The stock’s beta is 1.68. Besides these, the trailing price-to-sales (P/S) ratio of 1.38, the price-to-book (PB) ratio of 0.46.

Financial Health

In the three months ended December 30, New Gold Inc.’s quick ratio stood at 1.50, while its current ratio was 2.20, 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 December 30 was 0.41, and the total debt-to-equity ratio was 0.42. Based on annual data, NGD earned $221.7 million in gross profit and brought in $604.4 million in revenue.

In New Gold Inc.’s quarter-end financial report for December 30, 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 quarterly earnings, the actual figure was -$0.01 per share. During the quarter, the company generated $42.3 million in EBITDA. The liabilities of New Gold Inc. were 1.28 billion at the end of its most recent quarter ended December 30, and its total debt was $404.8 million.

Technical Picture

This quick technical analysis looks at New Gold Inc.’s (NGD) price momentum. With a historical volatility rate of 53.59%, the RSI 9-day stood at 47.09% on 17 March.

With respect to its five-day moving average, the current New Gold Inc. price is up by +1.14% percent or $0.0100. At present, NGD shares trade -7.50% below its 20-day simple moving average and +0.85% percent above its 100-day simple moving average. However, the stock is currently trading approximately -15.24% below its SMA50 and -29.92% below its SMA200.

Stochastic coefficient K was 26.58% and Stochastic coefficient D was 21.95%, while ATR was 0.0598. Given the Stochastic reading of 44.05% for the 14-day period, the RSI (14) reading has been calculated as 42.60%.


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