New Gold (NYSE:NGD) Stock Rating Lowered by StockNews.com

New Gold (NYSE:NGD) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

A number of other research firms have also recently weighed in on NGD. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of New Gold in a report on Monday, April 8th. Scotiabank raised their target price on New Gold from $1.65 to $2.00 and gave the company a “sector perform” rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $1.64.

New Gold Price Performance

New Gold stock opened at $1.87 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.51 and a quick ratio of 0.89. New Gold has a 12 month low of $0.86 and a 12 month high of $1.95. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -18.70, a price-to-earnings-growth ratio of 0.36 and a beta of 1.53.

New Gold (NYSE:NGD) last posted its earnings results on Tuesday, April 30th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The company had revenue of $192.10 million during the quarter. New Gold had a positive return on equity of 5.23% and a negative net margin of 9.81%. As a group, sell-side analysts expect that New Gold will post 0.14 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NGD. Heartland Advisors Inc. bought a new stake in New Gold in the third quarter worth $3,185,000. Deutsche Bank AG boosted its stake in shares of New Gold by 24.6% during the 3rd quarter. Deutsche Bank AG now owns 2,824,635 shares of the company’s stock worth $2,570,000 after acquiring an additional 556,765 shares in the last quarter. Ingalls & Snyder LLC raised its stake in shares of New Gold by 116.6% in the 4th quarter. Ingalls & Snyder LLC now owns 123,842 shares of the company’s stock valued at $181,000 after acquiring an additional 66,667 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of New Gold by 346.6% in the 4th quarter. Mackenzie Financial Corp now owns 9,635,055 shares of the company’s stock valued at $13,968,000 after acquiring an additional 7,477,711 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in New Gold by 2.7% in the 4th quarter. Van ECK Associates Corp now owns 66,886,569 shares of the company’s stock worth $97,655,000 after purchasing an additional 1,775,882 shares during the last quarter. 42.82% of the stock is owned by hedge funds and other institutional investors.

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.