New Gold Inc. (NYSE:NGD - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $3.62, but opened at $3.20. New Gold shares last traded at $3.63, with a volume of 3,884,733 shares trading hands.
Analyst Ratings Changes
A number of brokerages have recently commented on NGD. Scotiabank upped their target price on New Gold from $3.50 to $4.00 and gave the stock a "sector outperform" rating in a research note on Thursday, February 13th. New Street Research set a $3.90 price objective on shares of New Gold in a research note on Wednesday, March 26th. National Bank Financial upgraded shares of New Gold to a "strong-buy" rating in a research note on Friday, March 21st. CIBC lowered their price target on shares of New Gold from $3.60 to $3.40 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Finally, Bank of America raised shares of New Gold from an "underperform" rating to a "buy" rating and increased their target price for the stock from $2.60 to $3.90 in a research note on Wednesday, March 26th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, New Gold has a consensus rating of "Buy" and a consensus price target of $3.74.
View Our Latest Analysis on New Gold
New Gold Trading Down 0.7 %
The company has a 50 day simple moving average of $3.08 and a 200 day simple moving average of $2.88. The company has a market capitalization of $2.37 billion, a PE ratio of 23.00 and a beta of 0.93. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SIH Partners LLLP purchased a new stake in shares of New Gold in the fourth quarter valued at approximately $27,000. Tudor Investment Corp ET AL purchased a new stake in shares of New Gold during the fourth quarter worth $27,000. DGS Capital Management LLC acquired a new stake in shares of New Gold in the fourth quarter valued at $30,000. Samalin Investment Counsel LLC acquired a new position in New Gold during the 4th quarter worth $32,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in New Gold in the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 42.82% of the company's stock.
About New Gold
(
Get Free Report)
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.
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