New Gold (NYSEAMERICAN:NGD) Sees Unusually-High Trading Volume

Shares of New Gold Inc. (NYSEAMERICAN:NGD) saw strong trading volume on Friday . 2,661,523 shares were traded during trading, a decline of 55% from the previous session’s volume of 5,923,692 shares.The stock last traded at $1.91 and had previously closed at $1.84.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of New Gold in a report on Monday, April 8th. Scotiabank boosted their price objective on New Gold from $1.65 to $2.00 and gave the stock a “sector perform” rating in a research report on Monday, April 8th. Finally, StockNews.com lowered New Gold from a “buy” rating to a “hold” rating in a report on Sunday, January 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $1.64.

New Gold Price Performance

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.54 and a quick ratio of 0.98. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -20.00, a price-to-earnings-growth ratio of 0.98 and a beta of 1.54.

New Gold (NYSEAMERICAN:NGD) last announced its quarterly earnings results on Tuesday, February 13th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). The firm had revenue of $199.20 million for the quarter. New Gold had a negative net margin of 8.20% and a positive return on equity of 5.63%. On average, equities research analysts anticipate that New Gold Inc. will post 0.05 EPS for the current fiscal year.

Institutional Investors Weigh In On New Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Heartland Advisors Inc. acquired a new stake in shares of New Gold in the 3rd quarter valued at $3,185,000. Deutsche Bank AG boosted its holdings in New Gold by 24.6% in the third quarter. Deutsche Bank AG now owns 2,824,635 shares of the basic materials company’s stock valued at $2,570,000 after acquiring an additional 556,765 shares during the last quarter. Mackenzie Financial Corp increased its position in New Gold by 147.3% in the third quarter. Mackenzie Financial Corp now owns 2,157,344 shares of the basic materials company’s stock worth $2,124,000 after purchasing an additional 1,284,920 shares during the period. American Century Companies Inc. raised its holdings in New Gold by 1.0% during the 3rd quarter. American Century Companies Inc. now owns 5,095,417 shares of the basic materials company’s stock worth $4,669,000 after purchasing an additional 48,886 shares during the last quarter. Finally, Intact Investment Management Inc. lifted its position in New Gold by 6.9% during the 3rd quarter. Intact Investment Management Inc. now owns 2,792,200 shares of the basic materials company’s stock valued at $2,570,000 after purchasing an additional 179,500 shares during the period. Institutional investors and hedge funds own 42.82% of the company’s stock.

New Gold Company Profile

New Gold Inc, an intermediate gold mining company, develops and operates of mineral properties in Canada. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interest in the Rainy River mine located in Northwestern Ontario, Canada; and New Afton project situated in South-Central British Columbia.