New Gold Stock Price on December 31, 2023
| NGD Stock | USD 1.82 0.04 2.15% |
If you're considering investing in New Stock, it is important to understand the factors that can impact its price. As of today, the current price of New Gold stands at 1.82, as last reported on the 15th of May 2024, with the highest price reaching 1.87 and the lowest price hitting 1.74 during the day. New Gold appears to be very risky, given 3 months investment horizon. New Gold has Sharpe Ratio of 0.21, which conveys that the firm had a 0.21% return per unit of risk over the last 3 months. By analyzing New Gold's technical indicators, you can evaluate if the expected return of 0.77% is justified by implied risk. Please exercise New Gold's Mean Deviation of 2.9, downside deviation of 3.09, and Risk Adjusted Performance of 0.1384 to check out if our risk estimates are consistent with your expectations.
New Stock price history is provided at the adjusted basis, taking into account all of the recent filings.
New |
Sharpe Ratio = 0.2077
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Estimated Market Risk
| 3.71 actual daily | 32 68% of assets are more volatile |
Expected Return
| 0.77 actual daily | 15 85% of assets have higher returns |
Risk-Adjusted Return
| 0.21 actual daily | 16 84% of assets perform better |
Based on monthly moving average New Gold is performing at about 16% of its full potential. If added to a well diversified portfolio the total return can be enhanced and market risk can be reduced. You can increase risk-adjusted return of New Gold by adding it to a well-diversified portfolio.
New Gold Valuation on December 31, 2023
It is possible to determine the worth of New Gold on a given historical date. On December 31, 2023 New was worth 1.45 at the beginning of the trading date compared to the closed value of 1.46. We use multiple weighted factors in our valuation methodologies to arrive at the intrinsic value of New Gold stock. Still, in general, we apply an absolute valuation method to find New Gold's value based on its fundamental and technical indicators available within our service. As compared to an absolute model, our relative valuation model uses a comparative analysis of New Gold where we calculate exposure to its market risk and evaluate relevant financial multiples and ratios against New Gold's related companies.
| Open | High | Low | Close | Volume | |
| 1.53 | 1.54 | 1.46 | 1.46 | 3,062,997 | |
12/29/2023 | 1.45 | 1.48 | 1.42 | 1.46 | 3,021,810 |
| 1.48 | 1.48 | 1.41 | 1.43 | 3,118,486 |
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New Gold Trading Date Momentum on December 31, 2023
| On January 02 2024 New Gold was traded for 1.43 at the closing time. Highest New Gold's price during the trading hours was 1.48 and the lowest price during the day was 1.41 . The net volume was 3.1 M. The overall trading history on the 2nd of January contributed to the next trading period price depreciation. The trading delta at closing time to the next next day price was 2.05% . The trading delta at closing time to current price is 2.74% . |
New Gold Fundamentals Correlations and Trends
By evaluating New Gold's financials over time, investors can gain insight into future company performance. However, you can also analyze the published financial statements to find patterns among New Gold's main balance sheet or income statement drivers and many other relevant indicators that can statistically be found significantly correlated or uncorrelated. New financial account trend analysis is a perfect complement when working with valuation or volatility modules.About New Gold Stock history
New Gold investors dedicate a lot of time and effort to gaining insight into how a market's past behavior relates to its future. Access to timely market data for New is vital when making an investment decision, and regardless of whether you use fundamental or technical analysis, your return on investment in New Gold will depend on recognizing future opportunities and eliminating past mistakes. Historical data analysis is the study of market behavior over a given time. Recorded market-related data such as price, volatility, and volume can be quantified and studied over a defined period. Through a detailed examination of a market's past behavior, traders and investors can gain perspective on the inner workings of that market. The information obtained throughout analyzing New Gold stock prices may prove useful in developing a viable investing in New Gold
New Gold Inc., an intermediate gold mining company, engages in the exploration, development, and operation of mineral properties. The company was incorporated in 1980 and is headquartered in Toronto, Canada. New Gold is traded on AMEX Exchange in the United States.
New Gold Stock Technical Analysis
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.
Price Boundaries
New Gold Period Price Range
Low | December 29, 2023
| High |
1.45 | 1.46 |
New Gold May 15, 2024 Market Strength
Market strength indicators help investors to evaluate how New Gold stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading New Gold shares will generate the highest return on investment. By undertsting and applying New Gold stock market strength indicators, traders can identify New Gold entry and exit signals to maximize returns
New Gold Technical and Predictive Indicators
Predictive indicators are helping investors to find signals for New Gold's price direction in advance. Along with the technical and fundamental analysis of New Stock historical price patterns, it is also worthwhile for investors to track various predictive indicators of New to make sure they correctly time the market and exploit it's hidden potentials. Even though most predictive indicators are useful for the short-term horizon, it's virtually impossible to predict the unforeseen market. For traders with a short-term horizon, predictive indicators add value when properly applied. Long-term investors, however, may find many predictive indicators less useful.
| Risk Adjusted Performance | 0.1384 | |||
| Jensen Alpha | 0.6348 | |||
| Total Risk Alpha | 0.2819 | |||
| Sortino Ratio | 0.2201 | |||
| Treynor Ratio | 0.4902 |
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| Volume Indicators |
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in New Gold. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in price. For information on how to trade New Stock refer to our How to Trade New Stock guide.Note that the New Gold information on this page should be used as a complementary analysis to other New Gold's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
Complementary Tools for New Stock analysis
When running New Gold's price analysis, check to measure New Gold's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy New Gold is operating at the current time. Most of New Gold's value examination focuses on studying past and present price action to predict the probability of New Gold's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move New Gold's price. Additionally, you may evaluate how the addition of New Gold to your portfolios can decrease your overall portfolio volatility.
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Is New Gold's industry 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.
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.