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

Shares of New Gold Inc. (NYSEAMERICAN:NGDGet Rating) have been assigned a consensus rating of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $1.42.

Several research analysts have recently commented on the company. National Bank Financial raised their price objective on New Gold from C$1.40 to C$1.50 in a research note on Thursday, October 13th. Royal Bank of Canada raised New Gold from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $1.00 to $1.25 in a research note on Monday, October 3rd.

New Gold Stock Down 0.9 %

Shares of NYSEAMERICAN:NGD opened at $1.09 on Tuesday. The firm has a market cap of $743.68 million, a PE ratio of -21.80, a price-to-earnings-growth ratio of 1.21 and a beta of 1.99. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.68 and a current ratio of 2.38. New Gold has a 1 year low of $0.61 and a 1 year high of $2.02.

New Gold (NYSEAMERICAN:NGDGet Rating) last posted its earnings results on Thursday, November 3rd. The basic materials company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). New Gold had a positive return on equity of 8.82% and a negative net margin of 4.45%. The company had revenue of $151.20 million for the quarter. On average, analysts forecast that New Gold will post 0.13 EPS for the current year.

Hedge Funds Weigh In On New Gold

Several institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in shares of New Gold in the 1st quarter worth approximately $33,000. Citigroup Inc. boosted its holdings in shares of New Gold by 127.1% in the 1st quarter. Citigroup Inc. now owns 22,707 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 12,707 shares during the period. Versor Investments LP purchased a new position in shares of New Gold in the 1st quarter worth approximately $42,000. Bluefin Capital Management LLC purchased a new position in shares of New Gold in the 3rd quarter worth approximately $26,000. Finally, Commonwealth Equity Services LLC purchased a new position in shares of New Gold in the 3rd quarter worth approximately $25,000. Hedge funds and other 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 exploration, 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 mine located in Ontario, Canada; and New Afton mine situated in British Columbia, Canada.

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Analyst Recommendations for New Gold (NYSEAMERICAN:NGD)

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