New Gold Inc (AMEX:NGD) finished Friday with a subtraction of -$0.03 to close at $0.91, a downside of -2.74 percent. An average of 1,976,600 shares of common stock have been traded in the last five days. There was a fall of -$0.0749 in the past week, and it reached a new high 19 times over the past 12 months. The last 20 days have seen an average of 1,484,830 shares traded, while the 50-day average volume stands at 2,155,280.
NGD stock has decreased by -14.14% in the last month. The company shares reached their 1-month lowest point of $0.8900 on 09/29/23. With the stock rallying to its 52-week high on 05/09/23, shares of the company touched a low of $0.81 and a high of $1.48 in 52 weeks. It has reached a new high 20 times so far this year and lost -7.13% or -$0.0699 in price. In spite of this, the price is down -38.51% from the 52-week high.
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Valuation Metrics
New Gold Inc (NGD) stock’s beta is 1.60. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.88, the price-to-book (PB) ratio at 0.70.
Financial Health
The quick ratio of New Gold Inc for the recent quarter was 1.05, and the current ratio was 1.71, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.45 and a total debt to equity ratio of 0.45 for the recent quarter. Its gross profit as reported stood at $221.7 million compared to revenue of $604.4 million.
Earnings Surprise
For the recent quarter, New Gold Inc had $9.4 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$1.23 billion in the quarter, while revenues were grew 91.19%.
Technical Picture
From a technical analysis perspective, let’s take a brief look at New Gold Inc (NGD) price momentum. RSI 9-day as of the close on 29 September was 27.77%, suggesting the stock is oversold, with historical volatility in this time frame at 41.50%.
As of today, NGD’s price is $0.9304 -7.60% or -$0.0749 from its 5-day moving average. NGD is currently trading -13.32% lower than its 20-day SMA and -35.91% lower than its 100-day SMA. However, the stock’s current price level is -26.60% below the SMA50 and -13.32% below the SMA200.
The stochastic %K and %D were 16.71% and 17.30%, respectively, and the average true range (ATR) was 0.0422. With the 14-day stochastic at 11.82% and the average true range at 0.0428, the RSI (14) stands at 32.88%. The stock has reached -0.0425 on the 9-day MACD Oscillator while the 14-day reading was at -0.0577.
Analyst Ratings
The consensus rating for New Gold Inc (NGD) among analysts is Hold. According to current brokerage recommendations, 2 brokerage firms advise that investors sell NGD, while 4 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 4 others rate it as a “buy”.
What is NGD’s price target for the next 12 months?
Analysts predict a range of price targets between $1.00 and $2.08, with a median target of $1.50. Taking a look at these predictions, the average price target given by analysts for New Gold Inc (NGD) stock is $1.53.
