On 13 March 2020, New Gold Inc. (NYSE: NGD) changed -18.00% to recent value of $0.46. The stock transacted 9661583 shares during most recent day however it has an average volume of 3632.29K shares. It spotted trading -70.51% off 52-week high price. On the other end, the stock has been noted -17.86% away from the low price over the last 52-weeks.
New Gold Inc (NGD) reports fourth quarter and yearly results for the Company as well as its operational outlook for 2020.
Fourth Quarter and Yearly Highlights
- Total production (not including production from the Cerro San Pedro Mine) for the quarter was 101,423 gold equivalent (gold eq.) ounces (66,856 ounces of gold, 140,475 ounces of silver and 18.3M pounds of copper). For the year, production was 486,141 gold eq. ounces (322,557 ounces of gold, 596,452 ounces of silver and 79.4M pounds of copper) achieving yearly guidance of 465,000 to 520,000 gold eq. ounces.
- Revenues for the quarter were $139M and $631M for the year.
- Operating expense for the quarter was $1,007 per gold eq. ounce and $762 per gold eq. ounce for the year.
- Total cash costs1,2for the quarter were $942 per gold eq. ounce and $792 per gold eq. ounce for the year, achieving guidance of $740 to $820 per gold eq. ounce.
- All-in sustaining costs (AISC)1,2for the quarter were $1,862 per gold eq. ounce and $1,310 per gold eq. ounce for the year, below guidance of $1,330 to $1,430 per gold eq. ounce Because of lower sustaining capital spend.
- Net earnings from continuing operations for the quarter was $0.3M ($0.00 per share) with a net loss for the year of $74M ($0.12 per share).
- Adjusted net loss2from continuing operations for the quarter was $28M ($0.04 per share) and $47M ($0.08 per share) for the year.
- Operating cash flow generated from continuing operations for the quarter was $48M ($0.07 per share) and $264M ($0.43 per share) for the year. Operating cash flow generated from continuing operations for the quarter, before non-cash changes in working capital2, was $39M ($0.06 per share) and $238M ($0.39 per share) for the year.
- As of the end of the quarter, the Company had accessible liquidity of about $335M, including $83M in cash and cash equivalents.
- On February 13, 2020, the Company released results of the updated Life of Mine plans for the Rainy River Mine (Rainy River) and the New Afton Mines (New Afton).
“In 2019 we began a journey to reposition the company for long-term success and sustainable shareholder value creation and we are encouraged by the progress we made as we have delivered on all our key commitments that position the Company for the future.” stated Renaud Adams, CEO. “With the release of our updated life of mine plans we now start a new phase for the Company as we position Rainy River for profitable operations that drive free cash flow generation by the end of 2020 that will sustain over the life of the mine. We will also continue to focus on advancing development of the New Afton C-zone and expand our exploration program at both operations. The entire New Gold team is dedicated to executing on our updated mine plans that create value for our shareholders.”
NGD has a gross margin of 72.80% and an operating margin of -1.30% while its profit margin remained -11.70% for the last 12 months. Its earnings per share (EPS) expected to touch remained 93.60% for this year while earning per share for the next 5-years is expected to reach at 5.00%. The company has 799.11M of outstanding shares and 674.85M shares were floated in the market. According to the most recent quarter its current ratio was 1.3 that represents company’s ability to meet its current financial obligations. The price moved ahead of -43.70% from the mean of 20 days, -47.61% from mean of 50 days SMA and performed -53.04% from mean of 200 days price. Company’s performance for the week was -44.76%, -46.04% for month and YTD performance remained -47.73%.