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

Shares of New Gold Inc. (NYSEAMERICAN:NGD) have received an average rating of “Hold” from the four brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $1.55.

Several research analysts recently commented on the company. StockNews.com lowered New Gold from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. National Bank Financial restated a “sector perform spec overwgt” rating on shares of New Gold in a research report on Wednesday, January 3rd.

New Gold Stock Performance

NGD opened at $1.69 on Friday. The stock has a market capitalization of $1.17 billion, a P/E ratio of -18.78 and a beta of 1.50. New Gold has a 12 month low of $0.86 and a 12 month high of $1.76. The company has a quick ratio of 0.98, a current ratio of 1.54 and a debt-to-equity ratio of 0.51.

New Gold (NYSEAMERICAN:NGD) last released its quarterly earnings results on Tuesday, February 13th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). The company 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%. On average, analysts expect that New Gold will post 0.06 earnings per share for the current year.

Institutional Trading of New Gold

Large investors have recently modified their holdings of the company. Hillsdale Investment Management Inc. lifted its holdings in New Gold by 222.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 16,216,173 shares of the basic materials company’s stock worth $23,508,000 after buying an additional 11,186,898 shares during the period. Mackenzie Financial Corp lifted its holdings in New Gold by 346.6% during the fourth quarter. Mackenzie Financial Corp now owns 9,635,055 shares of the basic materials company’s stock worth $13,968,000 after buying an additional 7,477,711 shares during the period. Invesco Ltd. lifted its holdings in New Gold by 48.4% during the first quarter. Invesco Ltd. now owns 16,612,687 shares of the basic materials company’s stock worth $29,903,000 after buying an additional 5,421,488 shares during the period. Heartland Advisors Inc. purchased a new stake in New Gold during the third quarter worth $3,185,000. Finally, Deutsche Bank AG purchased a new stake in New Gold during the fourth quarter worth $2,634,000. Hedge funds and other institutional investors 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.