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How Does New Gold Inc.’s (AMEX: NGD) Short-Term Prospect Look Like?

New Gold Inc. (AMEX:NGD) traded at $1.19 at last check on Tuesday, November 22, made an upward move of 9.17% on its previous day’s price.

Looking at the stock we see that its previous close was $1.09 and the beta (5Y monthly) reads 1.60 with the day’s price range being $1.05 – $1.12. The company has a trailing 12-month PE ratio of 6.81. In terms of its 52-week price range, NGD has a high of $2.02 and a low of $0.61. The company’s stock has gained about 23.51% over that past 30 days.

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New Gold Inc. has a market cap of $960.00 million and is expected to release its quarterly earnings report on Feb 21, 2023 – Feb 27, 2023. Estimates by analysts give the company expected earnings per share (EPS) of -$0.01, with the EPS growth for the year raised at -$0.03 for 2022 and $0.1 for next year. These figures represent -125.00% and 433.30% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $149.11 million, with a low of $138.8 million and a high of $157.25 million. The median projection represents growth adding up to -17.10% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $604.61 million, or -18.90% down from figures reported last year.

There have been 3 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the NGD stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of Hold. Long term indicators on average place the stock in the category of Hold.

Looking further, we note that the PEG ratio for the NGD stock currently stands at 0.79, and the most recent price level today is 18.80% off its SMA20 and 27.77% from its 50-day simple moving average. The RSI (14) is pointing at 65.77 while the volatility over the past week is 5.49% and jumps to 6.25% over the past one month. The beta value is 1.59, while the average true range (ATR) is currently pointing at 0.07. The average price target for the stock over the next 12 months is $1.23, with the estimates having a low of $0.85 and a high of $2.00. These price ends are 28.57% and -68.07% off the today’s price level respectively, although investors could be excited at the prospect of a 0.84% if the NGD share price touches on the median price of $1.18.

Let’s briefly compare New Gold Inc. (NGD) stock to its peers. We find that today’s price change of 9.17% and -31.45% over the past 12 months for NGD competes that of Barrick Gold Corporation (GOLD), which has seen its stock price rise 3.58% in the latest trading session and is -22.78% over the last one year. Another of its peers Hecla Mining Company (HL) has gained 5.83% today, and was -20.37% down over the past year, while Coeur Mining Inc. (CDE) is also up 4.17% yet, while its price remains in the red at -49.38% over the same period. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at 0.72% and 0.82%, respectively, in early deals.

Coming back to New Gold Inc. (AMEX:NGD), we note that the average 3-month trading volume was 3.15 million, while that of the preceding 10-day period stands at 2.89 million. Current shares outstanding are 682.30 million.

The insiders hold 0.31% of the company’s shares while institutions hold 60.90%. The data shows that short shares as of Oct 13, 2022, stood at 7.73 million at a short ratio of 2.28. This represents a 1.13% short interest in shares outstanding on Oct 13, 2022. Shares short fall in October from the previous month at 13.12 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -27.33% down in year-to-date price movement.

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