New Gold Inc. (USA) (NYSEMKT:NGD) Is In a Deep Downtrend

[[tagnumber 0]][[tagnumber 1]]Times have been rough for the stock of New Gold Inc. (NYSEMKT:NGD) recently. Not only does the stock remain light years away from its 52–week high but it also scored a new 52–week low last Monday after the intermediate gold mining enterprise revealed its next earnings conference call scheduled to take place on July 28 after market close. We have yet to see what the impact of this forthcoming quarterly report will have on the chart performance of NGD. What we do know, however, is that the stock is in dire need of getting some fresh air.[[tagnumber 2]] [[tagnumber 0]]As it seems, New Gold has found itself in a steady downtrend which started in mid–October of 2014 following the bearish crossover between the 50–day moving average and its longer–term 200–day counterpart. Almost nine months later, we have yet to see a bull market for NGD on the horizon, except for the fact that NGD‘s continual recent plunge has not pushed the stock to an oversold level, which makes a slight rebound more likely in the immediate term. Will it be enough to buck the trend, though?[[tagnumber 2]] [[tagnumber 0]][[tagnumber 6]]New Gold was last seen profitable in 2012 when the company raked in an annual profit of $199 million, which was offset by an identical loss in 2013. Things got even worse in 2014 when a slight decrease in revenue resulted in a huge net loss in excess of $477 million, largely due to high production costs and a huge chunk of non–recurring expenses. Nevertheless, NGD managed to rake in $726 million in revenue, decrease its per–ounce all–in sustaining costs by $120, or 14%, as well as considerably improve its adjusted net cash generated from operations.[[tagnumber 2]] [[tagnumber 0]]During the fiscal year ended Dec. 31, 2014 New Gold Inc. met its goals both in terms of gold and copper production. The company is currently operating four fully–producing assets with three more projects still under development. Given the volatile nature of metal markets, the main challenges lying ahead of New Gold Inc. will revolve around a/ expanding production sites and b/ optimizing the costs associated therewith.[[tagnumber 2]] [[tagnumber 0]]New Gold shares closed the July 2 trading session at $2.69 on a volume of 3.55 million, slightly above both its 52–week low of $2.63 from June 30 and its daily average trading volume of 3.05 million, respectively.[[tagnumber 2]]