New Gold (NYSE:NGD) Upgraded at StockNews.com

New Gold (NYSE:NGD - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Friday.

Several other brokerages also recently commented on NGD. Cibc World Mkts raised New Gold to a "strong-buy" rating in a research report on Wednesday, July 10th. CIBC upped their price objective on New Gold from $3.00 to $3.40 and gave the company an "outperformer" rating in a research report on Wednesday, July 10th. Royal Bank of Canada upped their price objective on New Gold from $3.00 to $3.50 and gave the company an "outperform" rating in a research report on Tuesday, September 10th. Finally, Scotiabank upped their price objective on New Gold from $2.75 to $3.25 and gave the company a "sector outperform" rating in a research report on Tuesday, September 17th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $2.74.

New Gold Trading Down 1.5 %

Shares of NYSE NGD traded down $0.04 during trading hours on Friday, hitting $2.88. 8,649,400 shares of the company traded hands, compared to its average volume of 8,062,343. The company has a market capitalization of $2.27 billion, a PE ratio of -28.75 and a beta of 1.30. The company has a quick ratio of 0.98, a current ratio of 1.50 and a debt-to-equity ratio of 0.52. The firm's 50 day moving average is $2.80. New Gold has a 12 month low of $1.03 and a 12 month high of $3.25.

New Gold (NYSE:NGD - Get Free Report) last released its earnings results on Tuesday, July 30th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The firm had revenue of $218.20 million for the quarter. New Gold had a positive return on equity of 5.22% and a negative net margin of 2.53%. Equities analysts anticipate that New Gold will post 0.15 EPS for the current year.

Institutional Investors Weigh In On New Gold

Hedge funds have recently made changes to their positions in the company. Scientech Research LLC purchased a new stake in shares of New Gold during the 2nd quarter worth $28,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of New Gold during the 1st quarter worth $30,000. Allworth Financial LP lifted its stake in shares of New Gold by 941.8% during the 3rd quarter. Allworth Financial LP now owns 10,418 shares of the company's stock worth $30,000 after purchasing an additional 9,418 shares during the last quarter. Eastern Bank purchased a new stake in shares of New Gold during the 3rd quarter worth $33,000. Finally, Rathbones Group PLC purchased a new stake in shares of New Gold during the 2nd quarter worth $36,000. 42.82% of the stock is currently owned by hedge funds and other institutional investors.

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.

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