Credit Suisse Group reiterated their hold rating on shares of New Gold (NYSEAMERICAN:NGD) in a research note published on Wednesday morning, AnalystRatings.com reports. The firm currently has a $1.40 target price on the basic materials company’s stock.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research downgraded New Gold from a buy rating to a hold rating in a research report on Tuesday. CIBC upped their target price on New Gold from $0.75 to $1.20 and gave the company a neutral rating in a research report on Wednesday, May 13th. TD Securities upped their target price on New Gold from $0.85 to $0.90 and gave the company a hold rating in a research report on Thursday, April 30th. Royal Bank of Canada reissued a sell rating and set a $0.55 price target on shares of New Gold in a research report on Sunday, May 17th. Finally, Raymond James set a $1.25 price target on New Gold and gave the stock a market perform rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $1.52.
NYSEAMERICAN:NGD opened at $1.65 on Wednesday. New Gold has a 12-month low of $0.39 and a 12-month high of $1.71.
New Gold (NYSEAMERICAN:NGD) last posted its earnings results on Wednesday, April 29th. The basic materials company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The firm had revenue of $142.30 million during the quarter.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. bought a new stake in New Gold during the second quarter worth $26,000. Raymond James Financial Services Advisors Inc. lifted its stake in New Gold by 100.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 29,850 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 14,975 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in New Gold during the fourth quarter worth $31,000. Stanley Laman Group Ltd. bought a new stake in New Gold during the second quarter worth $59,000. Finally, Great West Life Assurance Co. Can lifted its stake in New Gold by 37.3% during the fourth quarter. Great West Life Assurance Co. Can now owns 46,067 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 12,512 shares during the last quarter. Hedge funds and other institutional investors own 51.53% of the company’s stock.
New Gold Company Profile
New Gold Inc, an intermediate gold mining company, engages in the development and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's operating properties include the Rainy River project located in Ontario, Canada; the New Afton project located near Kamloops, British Columbia, Canada; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.
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