Is a Correction Looming Ahead for New Gold Inc. (NGD) – News Heater
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Is a Correction Looming Ahead for New Gold Inc. (NGD)

New Gold Inc. (AMEX:NGD) went down by -5.60% from its latest closing price compared to the recent 1-year high of $2.02. The company’s stock price has collected -0.84% of loss in the last five trading sessions.

Is It Worth Investing in New Gold Inc. (AMEX :NGD) Right Now?

New Gold Inc. (AMEX:NGD) scored a price-to-earnings ratio above its average ratio, recording 6.93 x from its present earnings ratio. Plus, the 36-month beta value for NGD is at 1.73. Opinions of the stock are interesting as 3 analysts out of 12 who provided ratings for New Gold Inc. declared the stock was a “buy,” while 0 rated the stock as “overweight,” 8 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $1.95, which is $0.8 above the current price. NGD currently public float of 680.32M and currently shorts hold a 0.60% ratio of that float. Today, the average trading volume of NGD was 4.87M shares.

NGD’s Market Performance

NGD stocks went down by -0.84% for the week, with a monthly drop of -9.92% and a quarterly performance of -34.81%, while its annual performance rate touched -36.56%. The volatility ratio for the week stands at 7.27% while the volatility levels for the past 30 days are set at 6.62% for New Gold Inc. The simple moving average for the period of the last 20 days is -10.16% for NGD stocks with a simple moving average of -21.72% for the last 200 days.

Analysts’ Opinion of NGD

RBC Capital Mkts, on the other hand, stated in their research note that they expect to see NGD reach a price target of $1.50, previously predicting the price at $1.75. The rating they have provided for NGD stocks is “Sector Perform” according to the report published on September 08th, 2021.

NGD Trading at -17.59% from the 50-Day Moving Average

After a stumble in the market that brought NGD to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -41.58% of loss for the given period.

Volatility was left at 6.62%, however, over the last 30 days, the volatility rate increased by 7.27%, as shares sank -11.94% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -35.52% lower at present.

During the last 5 trading sessions, NGD fell by -0.84%, which changed the moving average for the period of 200-days by -11.28% in comparison to the 20-day moving average, which settled at $1.3055. In addition, New Gold Inc. saw -21.33% in overturn over a single year, with a tendency to cut further losses.

Stock Fundamentals for NGD

Current profitability levels for the company are sitting at:

  • +18.13 for the present operating margin
  • +21.19 for the gross margin

The net margin for New Gold Inc. stands at +18.78.

The liquidity ratio also appears to be rather interesting for investors as it stands at 3.97.