New Gold Inc. (NYSEAMERICAN:NGD) Receives $1.64 Consensus Target Price from Brokerages

New Gold Inc. (NYSEAMERICAN:NGD) has earned a consensus rating of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $1.64.

A number of analysts have recently weighed in on the stock. StockNews.com lowered shares of New Gold from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th. Scotiabank boosted their price objective on New Gold from $1.65 to $2.00 and gave the company a “sector perform” rating in a report on Monday, April 8th. Finally, National Bank Financial restated a “sector perform spec overwgt” rating on shares of New Gold in a research note on Monday, April 8th.

New Gold Price Performance

New Gold stock opened at $1.80 on Tuesday. New Gold has a 1-year low of $0.86 and a 1-year high of $1.94. The company has a quick ratio of 0.98, a current ratio of 1.54 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $1.24 billion, a PE ratio of -20.00, a price-to-earnings-growth ratio of 1.01 and a beta of 1.54.

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

Institutional Investors Weigh In On New Gold

A number of institutional investors have recently made changes to their positions in NGD. Heartland Advisors Inc. acquired a new position in shares of New Gold during the third quarter worth about $3,185,000. Deutsche Bank AG grew its holdings in New Gold by 24.6% during the 3rd quarter. Deutsche Bank AG now owns 2,824,635 shares of the basic materials company’s stock worth $2,570,000 after acquiring an additional 556,765 shares in the last quarter. Ingalls & Snyder LLC increased its position in shares of New Gold by 116.6% in the 4th quarter. Ingalls & Snyder LLC now owns 123,842 shares of the basic materials company’s stock valued at $181,000 after purchasing an additional 66,667 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of New Gold by 346.6% in the 4th quarter. Mackenzie Financial Corp now owns 9,635,055 shares of the basic materials company’s stock valued at $13,968,000 after purchasing an additional 7,477,711 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of 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. 42.82% of the stock is currently owned by institutional investors and hedge funds.

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.