New Gold Stock Market Value
| NGD Stock | USD 2.88 0.10 3.60% |
| Symbol | New |
New Gold Price To Book Ratio
Is Metals & Mining space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of New Gold. If investors know New will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about New Gold listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share 0.02 | Revenue Per Share 1.187 | Quarterly Revenue Growth 0.252 | Return On Assets 0.0297 | Return On Equity 0.0214 |
The market value of New Gold is measured differently than its book value, which is the value of New that is recorded on the company's balance sheet. Investors also form their own opinion of New Gold's value that differs from its market value or its book value, called intrinsic value, which is New Gold's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because New Gold's market value can be influenced by many factors that don't directly affect New Gold's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between New Gold's value and its price as these two are different measures arrived at by different means. Investors typically determine if New Gold is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, New Gold's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
New Gold 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to New Gold's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of New Gold.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in New Gold on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding New Gold or generate 0.0% return on investment in New Gold over 30 days. New Gold is related to or competes with Eldorado Gold, Kinross Gold, Harmony Gold, Coeur Mining, Fortuna Silver, Pan American, and IAMGold. New Gold Inc., an intermediate gold mining company, engages in the exploration, development, and operation of mineral pr... More
New Gold Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure New Gold's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess New Gold upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.0 | |||
| Information Ratio | 0.0134 | |||
| Maximum Drawdown | 17.13 | |||
| Value At Risk | (4.50) | |||
| Potential Upside | 5.53 |
New Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for New Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as New Gold's standard deviation. In reality, there are many statistical measures that can use New Gold historical prices to predict the future New Gold's volatility.| Risk Adjusted Performance | 0.0444 | |||
| Jensen Alpha | 0.0627 | |||
| Total Risk Alpha | (0.27) | |||
| Sortino Ratio | 0.014 | |||
| Treynor Ratio | 0.1785 |
New Gold Backtested Returns
At this point, New Gold is very risky. New Gold has Sharpe Ratio of 0.0565, which conveys that the firm had a 0.0565% return per unit of risk over the last 3 months. We have found thirty technical indicators for New Gold, which you can use to evaluate the volatility of the firm. Please verify New Gold's Downside Deviation of 3.0, risk adjusted performance of 0.0444, and Mean Deviation of 2.38 to check out if the risk estimate we provide is consistent with the expected return of 0.18%. New Gold has a performance score of 4 on a scale of 0 to 100. The company secures a Beta (Market Risk) of 0.79, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, New Gold's returns are expected to increase less than the market. However, during the bear market, the loss of holding New Gold is expected to be smaller as well. New Gold right now secures a risk of 3.17%. Please verify New Gold kurtosis, market facilitation index, and the relationship between the semi variance and rate of daily change , to decide if New Gold will be following its current price movements.
Auto-correlation | -0.33 |
Poor reverse predictability
New Gold has poor reverse predictability. Overlapping area represents the amount of predictability between New Gold time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 2024 to 22nd of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of New Gold price movement. The serial correlation of -0.33 indicates that nearly 33.0% of current New Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.33 | |
| Spearman Rank Test | -0.52 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
New Gold lagged returns against current returns
Autocorrelation, which is New Gold stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting New Gold's stock expected returns. We can calculate the autocorrelation of New Gold returns to help us make a trade decision. For example, suppose you find that New Gold has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
New Gold regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If New Gold stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if New Gold stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in New Gold stock over time.
Current vs Lagged Prices |
| Timeline |
New Gold Lagged Returns
When evaluating New Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of New Gold stock have on its future price. New Gold autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, New Gold autocorrelation shows the relationship between New Gold stock current value and its past values and can show if there is a momentum factor associated with investing in New Gold.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.When determining whether New Gold is a strong investment it is important to analyze New Gold's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact New Gold's future performance. For an informed investment choice regarding New Stock, refer to the following important reports:Check out New Gold Correlation, New Gold Volatility and New Gold Alpha and Beta module to complement your research on New Gold. For information on how to trade New Stock refer to our How to Trade New Stock guide.You can also try the Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
New Gold technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.