NEW GOLD (NGD) has risen sharply, recording gains of 14.11% in the past 4 weeks. However, the stock has corrected -3.5% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 9.33% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week. The stock has recorded a 20-day Moving Average of 4.79% and the 50-Day Moving Average is 8.88%.
NEW GOLD (NYSEMKT:NGD): The stock opened at $4.72 on Friday but the bulls could not build on the opening and the stock topped out at $4.81 for the day. The stock traded down to $4.65 during the day, due to lack of any buying support eventually closed down at $4.69 with a loss of -2.70% for the day. The stock had closed at $4.82 on the previous day. The total traded volume was 3,030,178 shares.
Institutional Investors own 52.14% of NEW GOLD shares.
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.