Shares of New Gold Inc. (NYSE:NGD - Get Free Report) have been assigned an average rating of "Buy" from the six ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $3.41.
Separately, StockNews.com upgraded shares of New Gold from a "hold" rating to a "buy" rating in a report on Friday, October 25th.
Check Out Our Latest Stock Report on New Gold
New Gold Stock Up 0.5 %
Shares of NYSE NGD traded up $0.02 during mid-day trading on Thursday, reaching $2.83. 8,173,904 shares of the company traded hands, compared to its average volume of 9,026,360. The company's fifty day moving average is $2.70 and its two-hundred day moving average is $2.64. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.42. New Gold has a fifty-two week low of $1.09 and a fifty-two week high of $3.25. The stock has a market cap of $2.23 billion, a PE ratio of 140.75 and a beta of 1.34.
New Gold (NYSE:NGD - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.04 by $0.04. New Gold had a return on equity of 9.38% and a net margin of 2.33%. The company had revenue of $252.00 million for the quarter. On average, analysts expect that New Gold will post 0.18 earnings per share for the current year.
Institutional Trading of New Gold
Several hedge funds have recently modified their holdings of the company. Scientech Research LLC bought a new position in shares of New Gold in the second quarter worth about $28,000. Allworth Financial LP increased its holdings in New Gold by 941.8% in the third quarter. Allworth Financial LP now owns 10,418 shares of the company's stock valued at $30,000 after purchasing an additional 9,418 shares during the last quarter. DGS Capital Management LLC acquired a new position in shares of New Gold during the 4th quarter worth about $30,000. Eastern Bank acquired a new position in New Gold during the third quarter valued at approximately $33,000. Finally, NorthCrest Asset Manangement LLC bought a new stake in New Gold in the third quarter valued at approximately $58,000. Institutional investors and hedge funds own 42.82% of the company's stock.
New Gold Company Profile
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Get Free ReportNew 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.
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