New Gold (NYSEAMERICAN:NGD) Stock Price Up 3.4%

New Gold Inc. (NYSEAMERICAN:NGD – Get Rating) shares rose 3.4% on Friday . The company traded as high as $0.90 and last traded at $0.90. Approximately 102,986 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 2,599,358 shares. The stock had previously closed at $0.87.

Analyst Ratings Changes

NGD has been the topic of a number of research reports. TD Securities decreased their target price on shares of New Gold from $0.95 to $0.90 and set a “reduce” rating on the stock in a research note on Friday, February 17th. TheStreet downgraded shares of New Gold from a “c” rating to a “d” rating in a report on Tuesday, February 21st. Scotiabank initiated coverage on shares of New Gold in a report on Friday, March 3rd. They set a “sector perform” rating for the company. Finally, National Bank Financial raised their price target on shares of New Gold from C$1.60 to C$1.75 in a report on Friday, January 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, New Gold has a consensus rating of “Hold” and a consensus target price of $1.48.

New Gold Stock Performance

The stock has a market capitalization of $600.85 million, a PE ratio of -8.80, a price-to-earnings-growth ratio of 2.17 and a beta of 1.49. The company has a current ratio of 2.20, a quick ratio of 1.53 and a debt-to-equity ratio of 0.41.

New Gold (NYSEAMERICAN:NGD – Get Rating) last announced its quarterly earnings results on Thursday, February 16th. The basic materials company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). New Gold had a negative net margin of 11.05% and a negative return on equity of 2.67%. The firm had revenue of $162.80 million during the quarter. As a group, research analysts anticipate that New Gold Inc. will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NGD. Commonwealth Equity Services LLC acquired a new position in shares of New Gold during the third quarter worth about $25,000. Bluefin Capital Management LLC acquired a new position in New Gold during the third quarter worth about $26,000. Boenning & Scattergood Inc. acquired a new position in New Gold during the fourth quarter worth about $26,000. Virtu Financial LLC acquired a new position in New Gold during the first quarter worth about $33,000. Finally, Quantbot Technologies LP acquired a new position in New Gold during the second quarter worth about $33,000. 31.92% of the stock is currently owned by institutional investors and hedge funds.

About New Gold

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New Gold, Inc is a gold mining company, which engages in the operation, development and exploration of mineral properties. Its portfolio includes Rainy RIver, New Afton, and Cerro San Pedro. The company was founded on January 31, 1980 and is headquartered in Toronto, Canada.