New Gold Inc. (NYSE:NGD - Get Free Report) was the target of unusually large options trading on Monday. Stock investors bought 11,552 call options on the company. This represents an increase of approximately 167% compared to the typical volume of 4,323 call options.
Analyst Ratings Changes
Separately, StockNews.com raised 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 assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $3.41.
Read Our Latest Stock Report on NGD
Institutional Investors Weigh In On New Gold
Institutional investors and hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp grew its stake in New Gold by 5.0% during the third quarter. Van ECK Associates Corp now owns 73,884,631 shares of the company's stock valued at $215,743,000 after acquiring an additional 3,541,882 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of New Gold by 9,360.7% during the third quarter. BNP Paribas Financial Markets now owns 2,692,614 shares of the company's stock valued at $7,755,000 after purchasing an additional 2,664,153 shares in the last quarter. ArrowMark Colorado Holdings LLC purchased a new position in shares of New Gold during the third quarter valued at about $4,787,000. Lord Abbett & CO. LLC bought a new stake in shares of New Gold in the third quarter worth about $4,435,000. Finally, JGP Global Gestao de Recursos Ltda. lifted its position in shares of New Gold by 27.8% in the fourth quarter. JGP Global Gestao de Recursos Ltda. now owns 6,500,000 shares of the company's stock worth $16,120,000 after buying an additional 1,412,003 shares in the last quarter. Institutional investors own 42.82% of the company's stock.
New Gold Price Performance
Shares of NYSE:NGD traded down $0.12 during trading on Thursday, hitting $2.99. 11,912,919 shares of the company's stock were exchanged, compared to its average volume of 11,564,748. The business's 50-day simple moving average is $2.75 and its 200 day simple moving average is $2.68. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 149.50 and a beta of 1.36. New Gold has a 52-week low of $1.09 and a 52-week high of $3.25. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.84.
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.
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