New Gold Inc. (NYSEAMERICAN:NGD) Given Consensus Recommendation of “Hold” by Brokerages

New Gold Inc. (NYSEAMERICAN:NGDGet Rating) has been assigned an average recommendation of “Hold” from the eleven research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $2.10.

NGD has been the subject of a number of research reports. National Bank Financial lifted their price objective on shares of New Gold from C$2.50 to C$2.75 in a report on Friday, February 4th. Raymond James set a $2.00 price objective on shares of New Gold and gave the company a “market perform” rating in a report on Thursday, February 24th. Canaccord Genuity Group downgraded shares of New Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, January 18th. BMO Capital Markets initiated coverage on shares of New Gold in a research note on Friday, December 24th. They issued an “outperform” rating for the company. Finally, TheStreet upgraded shares of New Gold from a “c-” rating to a “b” rating in a research note on Friday, March 25th.

New Gold stock traded up $0.04 during midday trading on Monday, hitting $1.90. 5,172,788 shares of the stock were exchanged, compared to its average volume of 8,759,804. New Gold has a fifty-two week low of $1.01 and a fifty-two week high of $2.23. The stock has a market cap of $1.29 billion, a P/E ratio of -38.00, a PEG ratio of 1.21 and a beta of 1.99. The company has a current ratio of 2.38, a quick ratio of 1.68 and a debt-to-equity ratio of 0.61.

New Gold (NYSEAMERICAN:NGDGet Rating) last announced its quarterly earnings results on Wednesday, February 23rd. The basic materials company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. New Gold had a negative net margin of 4.45% and a positive return on equity of 8.82%. As a group, analysts forecast that New Gold will post 0.13 EPS for the current year.

Hedge funds have recently bought and sold shares of the company. Kingsview Wealth Management LLC raised its position in shares of New Gold by 46.5% during the 4th quarter. Kingsview Wealth Management LLC now owns 22,200 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 7,050 shares during the last quarter. LPL Financial LLC raised its position in shares of New Gold by 23.6% during the 4th quarter. LPL Financial LLC now owns 44,944 shares of the basic materials company’s stock worth $67,000 after purchasing an additional 8,591 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in New Gold by 53.8% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 25,239 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 8,824 shares during the last quarter. BlackRock Inc. raised its holdings in New Gold by 9.6% in the 4th quarter. BlackRock Inc. now owns 111,708 shares of the basic materials company’s stock valued at $168,000 after acquiring an additional 9,815 shares during the last quarter. Finally, Shell Asset Management Co. raised its holdings in New Gold by 14.5% in the 4th quarter. Shell Asset Management Co. now owns 78,920 shares of the basic materials company’s stock valued at $118,000 after acquiring an additional 10,000 shares during the last quarter. Institutional investors own 30.03% of the company’s stock.

New Gold Company Profile (Get Rating)

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 principal operating properties include 100% interests in the Rainy River gold-silver mine located in Ontario, Canada; and New Afton gold-copper mine located in British Columbia, Canada.

Recommended Stories

Analyst Recommendations for New Gold (NYSEAMERICAN:NGD)

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.