New Gold (TSE:NGD) Hits 12-Month High: What Lies Ahead?

New Gold Inc. (TSE:NGD – Get Free Report) (ARCA:NGD) made headlines on Wednesday as its share price soared to a new 52-week high. During mid-day trading, shares reached C$4.96 and concluded the day at C$4.78, with a substantial trading volume of 2,014,645 shares. The previous closing price was C$4.80, indicating a strong upward trend.

New Gold's Stock Performance

Analyzing the stock performance, New Gold shows a solid financial foundation with a current ratio of 1.42 and a quick ratio of 1.64, reflecting good short-term financial health. However, the company does carry a relatively high debt-to-equity ratio of 45.12. Over the past 50 trading days, the stock's moving average was C$4.16, while the 200-day moving average stood at C$3.93. Currently, New Gold boasts a market capitalization of C$2.63 billion, a price-to-earnings (PE) ratio of 130.81, and a negative price-to-earnings-growth ratio of -3.02, indicating some challenges in earnings growth trending. The stock also has a beta of 1.59, suggesting greater volatility compared to the overall market.

Insider Transactions at New Gold

In recent developments, Senior Officer Keith Murphy sold 41,863 shares of New Gold on March 11th, at an average price of C$4.29. This transaction totaled approximately C$179,592.27. It's worth noting that corporate insiders hold around 4.92% of the company's shares, a factor that might influence market perception.

About New Gold

New Gold Inc. is recognized as an intermediate gold mining company. The firm operates two significant assets: the Rainy River Mine and the New Afton Mine, both located in Canada. Moreover, New Gold has interests in the Cerro San Pedro Mine in Mexico. Revenues are generated primarily through the sale of gold, copper, and silver, showcasing the diversity of its portfolio.

NewGold, Stocks, Investment