@NoWiser is correct that those are not the drawing odds, they're just the basic statistics. To calculate the true draw odds for a system as complex as NM takes a lot of work, and is why companies like goHUNT and toprut are able to get people to pay them money every year to calculate them. You can't do it by simply dividing the number of tags by the number of apps. A certain number of the applicants will never be considered for a tag they applied for as their third choice because they already drew either their first or second choice. So the number of apps for a given tag that are actually considered is smaller than the number you're seeing reported in that PDF that NM puts out, thus the true draw odds are better than what you're calculating.
If you're legitimately interested in what the experts say I suggest reading the below link (not a Rokslide sponsor, mods can remove if they want).
Easily access hunting seasons, maps, interactive hunting area pages, and more for all 50 states with Research Tools by onX Hunt. Try today.
www.toprut.com
There's even other factors we're not talking about here that toprut accounts for, one of which being group applications. NM will only award your group a tag if there are enough tags to supply the entire group (some other states do it differently). I believe that isn't even listed in the "NM G&F drawing odds for 2020" report you're looking at. You can pay for a more detailed report that includes group apps and additional details, and that's what goHUNT and toprut do in order to calculate true draw odds.