Scotiabank Boosts New Gold (NYSE:NGD) Price Target to $4.75

New Gold (NYSE:NGD - Free Report) had its price target raised by Scotiabank from $4.25 to $4.75 in a report released on Monday, Marketbeat reports. Scotiabank currently has a sector outperform rating on the stock. Scotiabank also issued estimates for New Gold's FY2026 earnings at $0.37 EPS.

NGD has been the topic of a number of other reports. National Bankshares reaffirmed an "outperform" rating on shares of New Gold in a research note on Wednesday, April 2nd. CIBC lowered their price objective on shares of New Gold from $3.60 to $3.40 and set an "outperform" rating for the company in a research note on Thursday, February 27th. New Street Research set a $3.90 price objective on New Gold in a research note on Wednesday, March 26th. Raymond James set a $4.00 price target on shares of New Gold and gave the stock a "market perform" rating in a report on Friday, April 4th. Finally, National Bank Financial upgraded shares of New Gold to a "strong-buy" rating in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $3.85.

New Gold Price Performance

New Gold stock traded down $0.10 during trading on Monday, reaching $3.64. The company had a trading volume of 23,362,842 shares, compared to its average volume of 11,505,908. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39. The firm has a market capitalization of $2.88 billion, a PE ratio of 28.00 and a beta of 0.93. New Gold has a 1-year low of $1.66 and a 1-year high of $3.86. The firm's 50-day simple moving average is $3.17 and its 200 day simple moving average is $2.91.

Institutional Trading of New Gold

A number of large investors have recently made changes to their positions in NGD. Atria Wealth Solutions Inc. acquired a new stake in shares of New Gold in the fourth quarter valued at approximately $87,000. Virtu Financial LLC purchased a new position in shares of New Gold during the third quarter worth about $941,000. Raymond James Financial Inc. acquired a new position in New Gold in the 4th quarter valued at about $1,918,000. HighTower Advisors LLC lifted its position in New Gold by 505.1% during the 3rd quarter. HighTower Advisors LLC now owns 111,360 shares of the company's stock worth $320,000 after acquiring an additional 92,956 shares during the period. Finally, Renaissance Technologies LLC lifted its position in New Gold by 11.6% during the 4th quarter. Renaissance Technologies LLC now owns 25,146,246 shares of the company's stock worth $62,363,000 after acquiring an additional 2,619,782 shares during the period. 42.82% of the stock is owned by institutional investors and hedge funds.

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.