New Gold Inc. (NYSE:NGD - Get Free Report) shares traded down 4.4% on Friday . The company traded as low as $2.96 and last traded at $2.90. 1,304,390 shares were traded during trading, a decline of 89% from the average session volume of 11,927,002 shares. The stock had previously closed at $3.03.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on NGD. Scotiabank raised their price objective on shares of 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 upgraded New Gold from a "hold" rating to a "buy" rating in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, New Gold has a consensus rating of "Buy" and a consensus target price of $3.60.
View Our Latest Stock Analysis on New Gold
New Gold Trading Up 1.7 %
The company has a market capitalization of $2.34 billion, a P/E ratio of 148.00 and a beta of 1.36. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.84. The business's 50-day moving average price is $2.77 and its two-hundred day moving average price is $2.74.
Hedge Funds Weigh In On New Gold
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NGD. Allspring Global Investments Holdings LLC lifted its holdings in shares of New Gold by 0.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,471,000 shares of the company's stock valued at $3,669,000 after purchasing an additional 4,500 shares in the last quarter. Oxbow Advisors LLC lifted its stake in New Gold by 1.7% in the 4th quarter. Oxbow Advisors LLC now owns 277,000 shares of the company's stock valued at $687,000 after acquiring an additional 4,624 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in New Gold by 11.9% in the 4th quarter. Bank of New York Mellon Corp now owns 50,292 shares of the company's stock valued at $125,000 after acquiring an additional 5,331 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of New Gold by 17.6% during the 3rd quarter. Captrust Financial Advisors now owns 44,700 shares of the company's stock worth $129,000 after acquiring an additional 6,700 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of New Gold by 0.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 910,656 shares of the company's stock valued at $2,258,000 after purchasing an additional 7,367 shares during the last quarter. 42.82% of the stock is owned by institutional investors and hedge funds.
New Gold Company Profile
(
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.
Further Reading
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