New Gold Inc. (NYSEAMERICAN:NGD – Get Rating) has received an average rating of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $1.42.
Several equities research analysts recently weighed in on the company. National Bank Financial increased their price target on New Gold from C$1.40 to C$1.50 in a report on Thursday, October 13th. Royal Bank of Canada raised New Gold from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $1.00 to $1.25 in a report on Monday, October 3rd.
New Gold Price Performance
NGD stock opened at $1.13 on Tuesday. The company has a market capitalization of $770.97 million, a PE ratio of -22.60, a PEG ratio of 1.21 and a beta of 1.99. New Gold has a twelve month low of $0.61 and a twelve month high of $2.02. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.38 and a quick ratio of 1.68.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in New Gold during the 1st quarter worth about $33,000. Citigroup Inc. increased its position in New Gold by 127.1% during the 1st quarter. Citigroup Inc. now owns 22,707 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 12,707 shares in the last quarter. Versor Investments LP purchased a new stake in New Gold during the 1st quarter worth about $42,000. Bluefin Capital Management LLC purchased a new stake in New Gold during the 3rd quarter worth about $26,000. Finally, Commonwealth Equity Services LLC purchased a new stake in New Gold during the 3rd quarter worth about $25,000. Hedge funds and other institutional investors own 30.03% of the company’s stock.
New Gold Company Profile
New Gold Inc, an intermediate gold mining company, engages in the exploration, development, and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interests in the Rainy River mine located in Ontario, Canada; and New Afton mine situated in British Columbia, Canada.
- Get a free copy of the StockNews.com research report on New Gold (NGD)
- Three CBD Stocks to Dominate a Budding Industry
- Is the 60/40 Portfolio Mix Still in Vogue?
- Microsoft Shares: Is it Time to Back Up the Truck?
- Institutional Support for Analog Devices Remains High
- Salesforce Cuts Labor, Shows Strong Earnings Despite Challenges
Receive News & Ratings for New Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Gold and related companies with MarketBeat.com's FREE daily email newsletter.