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New Gold

Sep. 21, 2020 1:45 PM ETNew Gold Inc. (NGD)
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Jim Van Meerten's Blog
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  • 100% technical buy signals.
  • 13 new highs and up 17.76% in the last month.
  • 52.99% gain in the last year.

The Barchart Chart of the Day belongs to the gold mining company 

New Gold (NGD).  I found the stock by using Barchart's powerful screening tools to find the stocks with the highest technical buy signals and Weighted Alpha, then sorted that list by the most frequent number of new hihs in the last month.  Finally, I used the Flipchart feature o review the charts for consistent price appreciation.  Since the Trend Spotter signaled a buy on 8/17 the stock gained 7.49%.

New Gold Inc., an intermediate gold mining company, engages in the development and operation of mineral properties. It explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interests in the Rainy River gold-silver mine located in Ontario, Canada; and New Afton gold-copper mine located in British Columbia, Canada. It also holds 100% interests in the Blackwater gold-silver project located in British Columbia, Canada; and operates the Cerro San Pedro gold-silver mine in Mexico. New Gold Inc. is headquartered in Toronto, Canada.

NGD New Gold

Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.

Barchart technical indicators:

  • 100% technical buy signals
  • 176.80+ Weighted Alpha
  • 52.99% gain in the last year
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 13 new highs and up 17.76% in the last month
  • Relative Strength index 52.63%
  • Technical support level at 1.83
  • Recently traded at 1.78 with a 50 day moving average of 1.62

Fundamental factors:

  • Market Cap $1.28 billion
  • Revenue expected to grow 6.90% this year and another 29.90% next year
  • Earnings estimated to increase 20.60% this year and an additional 83.30% next year
  • Wall Street analysts issued 2 strong buy, 3 buy, 8 hold and 2 under perform recommendations on the stock
  • The individual investors following the stock on Motley Fool voted 376 to 30 that the stock will beat the market
  • 15,880 investors are monitoring the stock on Seeking Alpha

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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