New Gold Inc. (NYSE:NGD) Receives Consensus Rating of "Buy" from Brokerages

Shares of New Gold Inc. (NYSE:NGD - Get Free Report) have been assigned an average rating of "Buy" from the six analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $3.60.

NGD has been the subject of a number of recent analyst reports. Scotiabank upped their price objective on New Gold from $3.50 to $4.00 and gave the company a "sector outperform" rating in a research note on Thursday, February 13th. StockNews.com raised New Gold from a "hold" rating to a "buy" rating in a research report on Friday, October 25th.

New Gold Stock Up 4.5 %

New Gold stock traded up $0.13 during trading on Monday, hitting $3.01. 16,149,954 shares of the company were exchanged, compared to its average volume of 12,555,320. The business's 50 day moving average is $2.77 and its 200 day moving average is $2.74. New Gold has a 52 week low of $1.10 and a 52 week high of $3.25. The company has a market capitalization of $2.38 billion, a P/E ratio of 150.50 and a beta of 1.36. The company has a current ratio of 1.42, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Allworth Financial LP lifted its holdings in New Gold by 941.8% during the 3rd quarter. Allworth Financial LP now owns 10,418 shares of the company's stock worth $30,000 after purchasing an additional 9,418 shares in the last quarter. SIH Partners LLLP purchased a new stake in New Gold during the 4th quarter worth about $27,000. Tudor Investment Corp ET AL purchased a new stake in New Gold during the 4th quarter worth about $27,000. Eastern Bank purchased a new stake in New Gold during the 3rd quarter worth about $33,000. Finally, DGS Capital Management LLC purchased a new stake in New Gold during the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 42.82% of the company's stock.

About New Gold

New Gold Inc, an intermediate gold mining company, develops and operates of mineral properties in Canada. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interest in the Rainy River mine located in Northwestern Ontario, Canada; and New Afton project situated in South-Central British Columbia.