New Other Assets vs Retained Earnings Analysis
NGD Stock | CAD 4.07 0.31 7.08% |
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 Other Assets and its Retained Earnings 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.
Other Assets vs Retained Earnings
Other Assets vs Retained Earnings Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of New Gold Other Assets account and Retained Earnings. At this time, the significance of the direction appears to have strong relationship.
The correlation between New Gold's Other Assets and Retained Earnings is 0.69. Overlapping area represents the amount of variation of Other Assets that can explain the historical movement of Retained Earnings 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 Other Assets and Retained Earnings is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Other Assets of New Gold are associated (or correlated) with its Retained Earnings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Retained Earnings has no effect on the direction of Other Assets i.e., New Gold's Other Assets and Retained Earnings go up and down completely randomly.
Correlation Coefficient | 0.69 |
Relationship Direction | Positive |
Relationship Strength | Significant |
Other Assets
Retained Earnings
The cumulative amount of net income that a company retains for reinvestment in its operations, rather than distributing it to shareholders as dividends.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 13th 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 Profit | 172.5M | 336.1M | 352.9M | Total Revenue | 745.5M | 786.5M | 426.6M |
New Gold fundamental ratios Correlations
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New Gold Account Relationship Matchups
High Positive Relationship
High Negative Relationship
New Gold fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 2.2B | 2.3B | 2.5B | 2.2B | 2.3B | 2.0B | |
Short Long Term Debt Total | 738.4M | 508.7M | 501.7M | 396.2M | 398.6M | 489.6M | |
Other Current Liab | 131.9M | 116.4M | 120.9M | 109.1M | 164.9M | 173.1M | |
Total Current Liabilities | 171.9M | 158.7M | 172.9M | 171.2M | 229M | 240.5M | |
Total Stockholder Equity | 961.3M | 789.3M | 955.9M | 959.5M | 789.2M | 1.1B | |
Property Plant And Equipment Net | 1.9B | 1.8B | 1.8B | 1.9B | 1.9B | 1.6B | |
Net Debt | 655M | 322.4M | 20.2M | 195.4M | 213.1M | 194.2M | |
Retained Earnings | (2.3B) | (2.4B) | (2.2B) | (2.3B) | (2.3B) | (2.2B) | |
Accounts Payable | 39.7M | 41.6M | 52M | 61.8M | 64.1M | 67.3M | |
Cash | 83.4M | 186.3M | 481.5M | 200.8M | 185.5M | 204.3M | |
Non Current Assets Total | 1.9B | 1.8B | 1.8B | 1.9B | 1.9B | 1.7B | |
Cash And Short Term Investments | 83.4M | 231.7M | 541M | 236.4M | 192.6M | 210.3M | |
Net Receivables | 28M | 82M | 30.1M | 4.4M | 10.2M | 9.7M | |
Common Stock Shares Outstanding | 611.1M | 676.3M | 682.4M | 681.9M | 684M | 718.2M | |
Liabilities And Stockholders Equity | 2.2B | 2.3B | 2.5B | 2.2B | 2.3B | 2.0B | |
Non Current Liabilities Total | 1.0B | 1.3B | 1.3B | 1.1B | 1.3B | 830.4M | |
Other Current Assets | 29.4M | 85.8M | 39M | 21M | 22.3M | 24.8M | |
Other Stockholder Equity | 105.7M | 106.7M | 107.5M | 107.8M | 106.9M | 101.6M | |
Total Liab | 1.2B | 1.5B | 1.5B | 1.3B | 1.5B | 877.1M | |
Property Plant And Equipment Gross | 1.9B | 1.8B | 3.5B | 3.8B | 4.1B | 4.3B | |
Total Current Assets | 228.7M | 418.8M | 686.3M | 377.5M | 351.8M | 331.0M | |
Accumulated Other Comprehensive Income | (13.6M) | (116.8M) | (93M) | (24.6M) | (135.9M) | (129.1M) | |
Inventory | 110M | 93.3M | 101M | 115.7M | 126.7M | 95.5M | |
Other Assets | 1.3M | 3M | 2.6M | 2.1M | 2.4M | 2.3M | |
Non Currrent Assets Other | 1.8M | 3M | 2.6M | 2.1M | 7M | 6.7M | |
Other Liab | 286.9M | 793.4M | 846.3M | 716.6M | 824.1M | 491.7M | |
Net Tangible Assets | 961.3M | 789.3M | 955.9M | 959.5M | 1.1B | 1.3B | |
Common Stock | 3.1B | 3.2B | 3.2B | 3.2B | 3.2B | 2.5B | |
Property Plant Equipment | 1.9B | 1.8B | 1.8B | 1.9B | 2.1B | 2.0B | |
Long Term Debt | 714.5M | 489.2M | 491M | 394.9M | 396M | 514.9M | |
Common Stock Total Equity | 3.0B | 3.0B | 3.1B | 3.2B | 3.6B | 3.2B | |
Long Term Debt Total | 738.4M | 508.7M | 501.7M | 396.2M | 356.6M | 552.2M | |
Capital Surpluse | 105.7M | 106.7M | 107.5M | 107.8M | 124.0M | 115.7M | |
Non Current Liabilities Other | 1M | 9M | 3.7M | 4.8M | 3.4M | 4.7M | |
Cash And Equivalents | 17.4M | 60.9M | 144M | 33.1M | 29.8M | 28.3M |
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
0.64 | BYD | Boyd Group Services | PairCorr |
0.47 | FDY | Faraday Copper Corp | PairCorr |
0.36 | IE | Ivanhoe Energy | PairCorr |
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.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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.