New Gold Balance Sheet Health
Financial Health criteria checks 5/6
New Gold has a total shareholder equity of $736.4M and total debt of $396.2M, which brings its debt-to-equity ratio to 53.8%. Its total assets and total liabilities are $2.3B and $1.5B respectively. New Gold's EBIT is $51.2M making its interest coverage ratio -7.4. It has cash and short-term investments of $164.3M.
Key information
53.8%
Debt to equity ratio
US$396.20m
Debt
| Interest coverage ratio | -7.4x |
| Cash | US$164.30m |
| Equity | US$736.40m |
| Total liabilities | US$1.52b |
| Total assets | US$2.26b |
Recent financial health updates
Is New Gold (TSE:NGD) Using Too Much Debt?
Mar 12
Is New Gold (TSE:NGD) A Risky Investment?
Jul 12Is New Gold (TSE:NGD) A Risky Investment?
Mar 02New Gold (TSE:NGD) Seems To Be Using A Lot Of Debt
Aug 20These 4 Measures Indicate That New Gold (TSE:NGD) Is Using Debt Reasonably Well
Apr 25Here's Why New Gold (TSE:NGD) Has A Meaningful Debt Burden
Nov 07Recent updates
Investors Still Aren't Entirely Convinced By New Gold Inc.'s (TSE:NGD) Revenues Despite 43% Price Jump
Mar 30Is New Gold (TSE:NGD) Using Too Much Debt?
Mar 12Not Many Are Piling Into New Gold Inc. (TSE:NGD) Just Yet
Jan 19Is New Gold (TSE:NGD) A Risky Investment?
Jul 12Is New Gold (TSE:NGD) A Risky Investment?
Mar 02New Gold (TSE:NGD) Seems To Be Using A Lot Of Debt
Aug 20These 4 Measures Indicate That New Gold (TSE:NGD) Is Using Debt Reasonably Well
Apr 25New Gold's (TSE:NGD) Earnings Are Of Questionable Quality
Mar 02Analysts Are More Bearish On New Gold Inc. (TSE:NGD) Than They Used To Be
Feb 28Here's Why New Gold (TSE:NGD) Has A Meaningful Debt Burden
Nov 07Does New Gold (TSE:NGD) Have A Healthy Balance Sheet?
Aug 04New Gold Inc. (TSE:NGD) On The Verge Of Breaking Even
May 10Have Insiders Been Buying New Gold Inc. (TSE:NGD) Shares This Year?
Feb 01
Could The New Gold Inc. (TSE:NGD) Ownership Structure Tell Us Something Useful?
Jan 11Loss-Making New Gold Inc. (TSE:NGD) Expected To Breakeven In The Medium-Term
Dec 21New Gold (TSE:NGD) Shareholders Have Enjoyed An Impressive 105% Share Price Gain
Nov 30Financial Position Analysis
Short Term Liabilities: NGD's short term assets ($319.6M) exceed its short term liabilities ($211.9M).
Long Term Liabilities: NGD's short term assets ($319.6M) do not cover its long term liabilities ($1.3B).
Debt to Equity History and Analysis
Debt Level: NGD's net debt to equity ratio (31.5%) is considered satisfactory.
Reducing Debt: NGD's debt to equity ratio has reduced from 84.1% to 53.8% over the past 5 years.
Balance Sheet
Cash Runway Analysis
For companies that have on average been loss-making in the past, we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: Whilst unprofitable NGD has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.
Forecast Cash Runway: NGD is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 5.7% per year.