New Gold (NYSEAMERICAN:NGD) Price Target Cut to $1.75 by Analysts at TD Securities

New Gold (NYSEAMERICAN:NGDGet Rating) had its price objective decreased by TD Securities from $2.00 to $1.75 in a research report report published on Tuesday morning, BayStreet.CA reports. TD Securities currently has a hold rating on the basic materials company’s stock.

A number of other equities analysts also recently commented on NGD. National Bank Financial reduced their target price on shares of New Gold from C$2.75 to C$2.50 in a research note on Wednesday, April 20th. Canaccord Genuity Group lowered shares of New Gold from a buy rating to a hold rating in a research report on Tuesday, January 18th. Zacks Investment Research lowered New Gold from a hold rating to a sell rating in a research report on Tuesday, March 22nd. Raymond James set a $2.00 target price on New Gold and gave the company a market perform rating in a research report on Tuesday. Finally, TheStreet raised New Gold from a c- rating to a b rating in a research note on Friday, March 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $2.25.

NYSEAMERICAN:NGD opened at $1.43 on Tuesday. New Gold has a one year low of $1.01 and a one year high of $2.23. The company has a market capitalization of $974.63 million, a P/E ratio of -28.60, a P/E/G ratio of 1.21 and a beta of 1.99. 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 (NYSEAMERICAN:NGDGet Rating) last issued its earnings results on Wednesday, February 23rd. The basic materials company reported $0.04 earnings per share (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 year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its stake in New Gold by 53.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 25,239 shares of the basic materials company’s stock worth $27,000 after buying an additional 8,824 shares during the period. B. Riley Wealth Management Inc. purchased a new position in shares of New Gold in the 3rd quarter valued at about $32,000. Kingsview Wealth Management LLC grew its position in shares of New Gold by 46.5% during the fourth quarter. Kingsview Wealth Management LLC now owns 22,200 shares of the basic materials company’s stock worth $33,000 after buying an additional 7,050 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of New Gold during the third quarter worth about $38,000. Finally, Gotham Asset Management LLC acquired a new stake in New Gold in the fourth quarter valued at approximately $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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