New Gold (NYSEAMERICAN:NGD) Shares Gap Up to $1.59

Shares of New Gold Inc. (NYSEAMERICAN:NGDGet Free Report) gapped up prior to trading on Monday . The stock had previously closed at $1.59, but opened at $1.64. New Gold shares last traded at $1.65, with a volume of 470,130 shares.

Wall Street Analysts Forecast Growth

NGD has been the topic of several analyst reports. Raymond James lifted their target price on New Gold from $1.50 to $1.75 and gave the company a “market perform” rating in a research report on Tuesday, November 28th. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of New Gold in a research note on Wednesday, January 3rd. Finally, StockNews.com downgraded New Gold from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $1.55.

Check Out Our Latest Stock Analysis on New Gold

New Gold Trading Down 0.6 %

The stock has a market capitalization of $1.08 billion, a PE ratio of 22.57 and a beta of 1.50. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.54 and a quick ratio of 0.98.

New Gold (NYSEAMERICAN:NGDGet Free Report) last posted its quarterly earnings data 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 during the quarter. New Gold had a positive return on equity of 5.63% and a negative net margin of 8.20%. As a group, equities analysts forecast that New Gold Inc. will post 0.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in shares of New Gold during the 1st quarter worth about $33,000. Citigroup Inc. boosted its holdings in shares of New Gold by 127.1% in the first quarter. Citigroup Inc. now owns 22,707 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 12,707 shares during the period. Commonwealth Equity Services LLC acquired a new position in shares of New Gold in the 3rd quarter valued at $25,000. CreativeOne Wealth LLC acquired a new stake in New Gold during the 2nd quarter worth $33,000. Finally, Quantbot Technologies LP acquired a new position in New Gold in the second quarter valued at $33,000. Hedge funds and other institutional investors own 42.82% of the company’s stock.

About New Gold

(Get Free Report)

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.

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