New Cash And Short Term Investments vs Other Stockholder Equity Analysis

NGD Stock  CAD 4.38  0.25  6.05%   
New Gold financial indicator trend analysis is infinitely more than just investigating New Gold recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether New Gold is a good investment. Please check the relationship between New Gold Cash And Short Term Investments and its Other Stockholder Equity accounts. Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in New Gold. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
To learn how to invest in New Stock, please use our How to Invest in New Gold guide.

Cash And Short Term Investments vs Other Stockholder Equity

Cash And Short Term Investments vs Other Stockholder Equity Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of New Gold Cash And Short Term Investments account and Other Stockholder Equity. At this time, the significance of the direction appears to have no relationship.
The correlation between New Gold's Cash And Short Term Investments and Other Stockholder Equity is 0.07. Overlapping area represents the amount of variation of Cash And Short Term Investments that can explain the historical movement of Other Stockholder Equity in the same time period over historical financial statements of New Gold, assuming nothing else is changed. The correlation between historical values of New Gold's Cash And Short Term Investments and Other Stockholder Equity is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Cash And Short Term Investments of New Gold are associated (or correlated) with its Other Stockholder Equity. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Other Stockholder Equity has no effect on the direction of Cash And Short Term Investments i.e., New Gold's Cash And Short Term Investments and Other Stockholder Equity go up and down completely randomly.

Correlation Coefficient

0.07
Relationship DirectionPositive 
Relationship StrengthInsignificant

Cash And Short Term Investments

Short Term Investments is an account in the current assets section of New Gold balance sheet. This account contains New Gold investments that will expire within one year. These investments include stocks and bonds that can be liquidated by New Gold fairly quickly. The sum of a company's cash on hand, including bank deposits and short-term, highly liquid investments that are easily convertible to known amounts of cash.

Other Stockholder Equity

Most indicators from New Gold's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into New Gold current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in New Gold. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
To learn how to invest in New Stock, please use our How to Invest in New Gold guide.At this time, New Gold's Tax Provision is very stable compared to the past year. As of the 12th of December 2024, Sales General And Administrative To Revenue is likely to grow to 0.05, while Selling General Administrative is likely to drop about 19.5 M.
 2021 2023 2024 (projected)
Gross Profit172.5M336.1M352.9M
Total Revenue745.5M786.5M426.6M

New Gold fundamental ratios Correlations

0.80.280.280.950.990.640.410.390.090.680.990.640.240.250.820.310.110.820.520.80.880.83-0.250.60.51
0.80.070.110.670.80.560.810.10.190.370.810.330.270.320.840.27-0.340.80.320.540.870.62-0.290.60.28
0.280.070.980.20.310.69-0.09-0.350.590.220.280.230.160.660.3-0.080.390.360.640.220.130.040.090.070.51
0.280.110.980.160.310.75-0.04-0.450.730.190.280.20.120.760.35-0.090.330.410.720.210.19-0.010.150.090.57
0.950.670.20.160.930.460.270.61-0.110.690.940.630.150.030.60.240.260.590.40.760.790.87-0.410.540.28
0.990.80.310.310.930.680.470.350.110.591.00.550.240.280.820.270.150.820.520.730.890.83-0.280.60.5
0.640.560.690.750.460.680.33-0.40.670.390.630.40.240.860.760.260.10.790.750.540.670.220.140.180.7
0.410.81-0.09-0.040.270.470.33-0.110.16-0.240.49-0.280.30.210.580.1-0.390.550.01-0.040.60.4-0.370.590.06
0.390.1-0.35-0.450.610.35-0.4-0.11-0.730.370.390.3-0.07-0.76-0.08-0.010.29-0.11-0.250.310.180.69-0.560.35-0.31
0.090.190.590.73-0.110.110.670.16-0.730.010.090.05-0.090.880.4-0.13-0.190.420.740.080.26-0.30.350.040.55
0.680.370.220.190.690.590.39-0.240.370.010.580.99-0.020.150.480.30.080.480.460.960.490.410.130.070.39
0.990.810.280.280.941.00.630.490.390.090.580.530.260.240.820.270.120.810.50.720.890.86-0.310.650.48
0.640.330.230.20.630.550.4-0.280.30.050.990.53-0.010.20.480.310.070.480.470.960.450.350.240.030.44
0.240.270.160.120.150.240.240.3-0.07-0.09-0.020.26-0.010.150.340.640.050.35-0.120.120.080.310.090.480.29
0.250.320.660.760.030.280.860.21-0.760.880.150.240.20.150.560.2-0.120.590.720.270.35-0.210.45-0.050.68
0.820.840.30.350.60.820.760.58-0.080.40.480.820.480.340.560.38-0.270.990.580.670.840.550.090.550.75
0.310.27-0.08-0.090.240.270.260.1-0.01-0.130.30.270.310.640.20.38-0.210.350.080.430.260.220.190.10.35
0.11-0.340.390.330.260.150.1-0.390.29-0.190.080.120.070.05-0.12-0.27-0.21-0.2-0.010.02-0.10.2-0.13-0.02-0.03
0.820.80.360.410.590.820.790.55-0.110.420.480.810.480.350.590.990.35-0.20.590.660.820.540.110.530.78
0.520.320.640.720.40.520.750.01-0.250.740.460.50.47-0.120.720.580.08-0.010.590.510.520.190.150.150.71
0.80.540.220.210.760.730.54-0.040.310.080.960.720.960.120.270.670.430.020.660.510.660.520.130.210.51
0.880.870.130.190.790.890.670.60.180.260.490.890.450.080.350.840.26-0.10.820.520.660.66-0.280.520.44
0.830.620.04-0.010.870.830.220.40.69-0.30.410.860.350.31-0.210.550.220.20.540.190.520.66-0.50.760.24
-0.25-0.290.090.15-0.41-0.280.14-0.37-0.560.350.13-0.310.240.090.450.090.19-0.130.110.150.13-0.28-0.5-0.370.51
0.60.60.070.090.540.60.180.590.350.040.070.650.030.48-0.050.550.1-0.020.530.150.210.520.76-0.370.25
0.510.280.510.570.280.50.70.06-0.310.550.390.480.440.290.680.750.35-0.030.780.710.510.440.240.510.25
Click cells to compare fundamentals

New Gold Account Relationship Matchups

New Gold fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets2.2B2.3B2.5B2.2B2.3B2.0B
Short Long Term Debt Total738.4M508.7M501.7M396.2M398.6M489.6M
Other Current Liab131.9M116.4M120.9M109.1M164.9M173.1M
Total Current Liabilities171.9M158.7M172.9M171.2M229M240.5M
Total Stockholder Equity961.3M789.3M955.9M959.5M789.2M1.1B
Property Plant And Equipment Net1.9B1.8B1.8B1.9B1.9B1.6B
Net Debt655M322.4M20.2M195.4M213.1M194.2M
Retained Earnings(2.3B)(2.4B)(2.2B)(2.3B)(2.3B)(2.2B)
Accounts Payable39.7M41.6M52M61.8M64.1M67.3M
Cash83.4M186.3M481.5M200.8M185.5M204.3M
Non Current Assets Total1.9B1.8B1.8B1.9B1.9B1.7B
Cash And Short Term Investments83.4M231.7M541M236.4M192.6M210.3M
Net Receivables28M82M30.1M4.4M10.2M9.7M
Common Stock Shares Outstanding611.1M676.3M682.4M681.9M684M718.2M
Liabilities And Stockholders Equity2.2B2.3B2.5B2.2B2.3B2.0B
Non Current Liabilities Total1.0B1.3B1.3B1.1B1.3B830.4M
Other Current Assets29.4M85.8M39M21M22.3M24.8M
Other Stockholder Equity105.7M106.7M107.5M107.8M106.9M101.6M
Total Liab1.2B1.5B1.5B1.3B1.5B877.1M
Property Plant And Equipment Gross1.9B1.8B3.5B3.8B4.1B4.3B
Total Current Assets228.7M418.8M686.3M377.5M351.8M331.0M
Accumulated Other Comprehensive Income(13.6M)(116.8M)(93M)(24.6M)(135.9M)(129.1M)
Inventory110M93.3M101M115.7M126.7M95.5M
Other Assets1.3M3M2.6M2.1M2.4M2.3M
Non Currrent Assets Other1.8M3M2.6M2.1M7M6.7M
Other Liab286.9M793.4M846.3M716.6M824.1M491.7M
Net Tangible Assets961.3M789.3M955.9M959.5M1.1B1.3B
Common Stock3.1B3.2B3.2B3.2B3.2B2.5B
Property Plant Equipment1.9B1.8B1.8B1.9B2.1B2.0B
Long Term Debt714.5M489.2M491M394.9M396M514.9M
Common Stock Total Equity3.0B3.0B3.1B3.2B3.6B3.2B
Long Term Debt Total738.4M508.7M501.7M396.2M356.6M552.2M
Capital Surpluse105.7M106.7M107.5M107.8M124.0M115.7M
Non Current Liabilities Other1M9M3.7M4.8M3.4M4.7M
Cash And Equivalents17.4M60.9M144M33.1M29.8M28.3M

Pair Trading with New Gold

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if New Gold position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in New Gold will appreciate offsetting losses from the drop in the long position's value.

Moving against New Stock

  0.62BYD Boyd Group ServicesPairCorr
  0.36FDY Faraday Copper CorpPairCorr
The ability to find closely correlated positions to New Gold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace New Gold when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back New Gold - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling New Gold to buy it.
The correlation of New Gold is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as New Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if New Gold moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for New Gold can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
When determining whether New Gold is a strong investment it is important to analyze New Gold's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact New Gold's future performance. For an informed investment choice regarding New Stock, refer to the following important reports:
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in New Gold. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
To learn how to invest in New Stock, please use our How to Invest in New Gold guide.
You can also try the Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
Please note, there is a significant difference between New Gold's value and its price as these two are different measures arrived at by different means. Investors typically determine if New Gold is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, New Gold's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.