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New Gold Inc. (AMEX: NGD) stock has achieved $1.5450 in the past week

New Gold Inc. (AMEX:NGD) saw a downside of -1.40% to $1.41 after subtracting -$0.02 on Wednesday. The 5-day average trading volume is 4,304,061 shares…

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This article was originally published by Fosters Leader

New Gold Inc. (AMEX:NGD) saw a downside of -1.40% to $1.41 after subtracting -$0.02 on Wednesday. The 5-day average trading volume is 4,304,061 shares of the company’s common stock. It has gained $1.5450 in the past week and touched a new high 2 times within the past 5 days. An average of 5,213,210 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 7,039,554.

NGD’s 1-month performance is -22.28% or -$0.4400 on its low of $1.3400 reached on 05/02/22. The company’s shares have touched a 52-week low of $1.01 and high of $2.23, with the stock’s rally to the 52-week high happening on 02/17/22. YTD, NGD has lost -4.67% or -$0.1000 and has reached a new high 11 times. However, the current price is down -36.77% from the 52-week high price.

Valuation Metrics

NGD stock has a beta of 1.88. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.33 while the price-to-book (PB) in the most recent quarter is 1.02, with the price to cash flow ratio at 12.94.

New Gold Inc.’s quick ratio for the period ended September 29 was 3.40, with the current ratio over the same period at 4.00. As well, the company’s long term debt to equity for the quarter ending September 29 was 0.52, while the total debt to equity was 0.53. In terms of profitability, the gross margin trailing 12 months is 77.80%. The firm’s gross profit as reported stood at $368.2 million against revenue of $745.5 million.

Earnings Surprise

For the quarterly period ending September 29 this year, New Gold Inc.’s cash and short-term investments amounted to $4.3 million against total debt of $513.1 million. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 91.19% to -$1.23 billion, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected NGD to announce $0.02 per share in earnings in its latest quarter, but it posted $0.03, representing a 50.00% surprise. EBITDA for the quarter stood at more than $41.0 million. NGD stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 1.52 billion, with total debt at $513.1 million.

Let’s look briefly at New Gold Inc. (NGD) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 03 May was 28.52% to suggest the stock is trending oversold, with historical volatility in this time period at 54.11%.

The stock’s 5-day moving average is $1.4340, reflecting a -1.41% or -$0.0200 change from its current price. NGD is currently trading -20.90% above its 20-day SMA, -3.45% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -25.13% and SMA200 by-11.39%.

Stochastic %K and %D was 10.26% and 10.11% and the average true range (ATR) pointed at 0.0949. The RSI (14) points at 32.16%, while the 14-day stochastic is at 9.23% with the period’s ATR at 0.0970. The stock’s 9-day MACD Oscillator is pointing at -0.0633 and -0.1933 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for New Gold Inc. (AMEX: NGD), Canaccord Genuity downgraded it to a Hold rating. They previously had a Buy rating on the stock.

Author: Mike Veveers

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