New Gold Inc. (NYSEAMERICAN:NGD) Short Interest Update

New Gold Inc. (NYSEAMERICAN:NGDGet Rating) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 2,290,000 shares, an increase of 23.8% from the March 31st total of 1,850,000 shares. Based on an average daily volume of 8,340,000 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.4% of the shares of the stock are short sold.

Several equities analysts have issued reports on the company. TheStreet upgraded New Gold from a “c-” rating to a “b” rating in a research report on Friday, March 25th. Canaccord Genuity Group cut New Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, January 18th. Raymond James set a $2.00 target price on New Gold and gave the company a “market perform” rating in a research note on Thursday, February 24th. National Bank Financial lowered their target price on New Gold from C$2.75 to C$2.50 in a research note on Wednesday, April 20th. Finally, Zacks Investment Research cut New Gold from a “hold” rating to a “sell” rating in a research note on Tuesday, March 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $2.25.

Shares of New Gold stock opened at $1.39 on Tuesday. The company has a quick ratio of 1.68, a current ratio of 2.38 and a debt-to-equity ratio of 0.61. New Gold has a 12 month low of $1.01 and a 12 month high of $2.23. The firm has a market cap of $947.37 million, a P/E ratio of -27.80, a P/E/G ratio of 1.21 and a beta of 1.99.

New Gold (NYSEAMERICAN:NGDGet Rating) last announced its quarterly earnings data on Wednesday, February 23rd. The basic materials company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. New Gold had a positive return on equity of 8.82% and a negative net margin of 4.45%. The business had revenue of $202.60 million during the quarter. As a group, equities research analysts anticipate that New Gold will post 0.13 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. grew its stake in New Gold by 53.8% in the third 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 period. B. Riley Wealth Management Inc. acquired a new position in New Gold in the third quarter valued at about $32,000. Kingsview Wealth Management LLC grew its stake in New Gold by 46.5% in the fourth quarter. Kingsview Wealth Management LLC now owns 22,200 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 7,050 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in New Gold in the third quarter valued at about $38,000. Finally, Gotham Asset Management LLC acquired a new position in New Gold in the fourth quarter valued at about $40,000. 30.03% of the stock is owned by institutional investors and hedge funds.

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.

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