NEW GOLD (NGD) : Traders are bullish on NEW GOLD (NGD) as it has outperformed the S&P 500 by a wide margin of 12.03% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 6.85%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 7.31% in the last 1 week, and is up 14.82% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
NEW GOLD (NYSEMKT:NGD): The stock opened at $5.51 on Friday but the bulls could not build on the opening and the stock topped out at $5.66 for the day. The stock traded down to $5.45 during the day, due to lack of any buying support eventually closed down at $5.58 with a loss of -2.96% for the day. The stock had closed at $5.75 on the previous day. The total traded volume was 6,685,167 shares.
The stock has recorded a 20-day Moving Average of 15.19% and the 50-Day Moving Average is 25.68%. New Gold, Inc. is up 21.3% in the last 3-month period. Year-to-Date the stock performance stands at 140.52%.
NEW GOLD (NGD) stock is expected to deviate a maximum of $1.23 from the average target price of $5.23 for the short term period. 7 Street Experts have initiated coverage on the stock with the most promising target being $7 and the most muted being $4.
New Gold Inc. is a Canada-based intermediate gold mining company engaged in the development and operation of mineral properties. The Companys assets include New Afton Mine in Canada, which is an underground gold?copper deposit; the Mesquite Mine in the United States, which is an open pit mine; the Peak Mines in Australia, which is an underground gold?copper deposit, and the Cerro San Pedro Mine in Mexico, which is a gold?silver, open pit mine. The Company projects include the Rainy River and Blackwater projects, both in Canada, and a 30% interest in the El Morro copper?gold project in Chile. Approximately 28% of the Companys gold revenue is generated from Canada, 28% from the United States, 26% from Australia and 18% from Mexico, and over 70% of its gold reserves are located in Canada.