New Gold Inc. (NGD:CA) was one of the best stocks in materials sector of the S&P/TSX Composite Index on January 13, rising 1.71% to close the day at $5.36 after closing the day prior at $5.27. Throughout the day, shares of NGD:CA traded as high as $5.38 and as low as $5.15. Today’s advance came with about 1.48 million shares changing hands, compared to an average 30-day volume of 1.82 million for New Gold Inc.. The price is currently below the 30-day volume weighted average price of $5.31 for NGD:CA.
The share appreciation gives the company a market capitalization of $2.71 billion based upon 513.36 million shares outstanding. It also means that New Gold Inc. has a price-to-book ratio of 0.97:1 and a price-to-earnings ratio of :1.
In the past 52 weeks, shares of NGD:CA have traded as low as $2.56 and as high as $7.87. Technical traders will take note that at $5.36, shares of NGD:CA are trading below their 200-day MA at $5.63 and above their 50-day MA at $4.98. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is New Gold Inc.?
New Gold Inc is an intermediate gold producer. It is engaged in the acquisition, exploration and development of natural resource properties. The company’s 1623 employees are led by CEO Robert J. Gallagher from the corporate headquarters at 1800 – 555 Burrard Street.
What is the S&P/TSX Composite Index?
Developed and managed by S&P Dow Jones Indices and launched in January 1977, the S&P/TSX Composite is the headline index for the Canadian equity market. Generally, when investors refer to movement in the Canadian markets, they are referring to the S&P/TSX Composite, as it is the broadest index in the S&P/TSX franchise. The index includes more than 230 of the biggest companies traded on the Toronto Stock Exchange, with financials making up the most heavily weighted sector in the index, followed by energy and materials. The Toronto Stock Exchange serves as the distributor of both real-time and historical data for this index.
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