New Gold Inc. (NYSEAMERICAN:NGD) Receives $1.64 Average Target Price from Analysts

New Gold Inc. (NYSEAMERICAN:NGD) has earned a consensus rating of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $1.64.

NGD has been the topic of a number of recent research reports. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of New Gold in a report on Monday, April 8th. StockNews.com downgraded New Gold from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th. Finally, Scotiabank increased their price objective on shares of New Gold from $1.65 to $2.00 and gave the stock a “sector perform” rating in a research note on Monday, April 8th.

Institutional Investors Weigh In On New Gold

Large investors have recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. bought a new position in shares of New Gold during the third quarter valued at approximately $61,000. Independent Family Office LLC bought a new position in New Gold in the 4th quarter worth $123,000. Baader Bank Aktiengesellschaft lifted its position in shares of New Gold by 812.7% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 91,267 shares of the basic materials company’s stock worth $132,000 after purchasing an additional 81,267 shares during the period. Ingalls & Snyder LLC boosted its stake in shares of New Gold by 116.6% during the 4th quarter. Ingalls & Snyder LLC now owns 123,842 shares of the basic materials company’s stock valued at $181,000 after purchasing an additional 66,667 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of New Gold during the fourth quarter valued at about $206,000. Hedge funds and other institutional investors own 42.82% of the company’s stock.

New Gold Stock Performance

Shares of NGD opened at $1.80 on Tuesday. The firm has a market cap of $1.24 billion, a P/E ratio of -20.00, a price-to-earnings-growth ratio of 1.01 and a beta of 1.54. New Gold has a 12 month low of $0.86 and a 12 month high of $1.94. The company has a quick ratio of 0.98, a current ratio of 1.54 and a debt-to-equity ratio of 0.51.

New Gold (NYSEAMERICAN:NGD) last posted its quarterly earnings results on Tuesday, February 13th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). The firm had revenue of $199.20 million for the quarter. New Gold had a positive return on equity of 5.63% and a negative net margin of 8.20%. Equities research analysts anticipate that New Gold will post 0.05 earnings per share for the current year.

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.