New Gold Inc. (NYSEAMERICAN:NGD) was the target of a large decline in short interest in the month of December. As of December 29th, there was short interest totalling 5,171,802 shares, a decline of 19.0% from the December 15th total of 6,384,692 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average trading volume of 2,708,798 shares, the short-interest ratio is presently 1.9 days.
New Gold (NYSEAMERICAN NGD) opened at $3.39 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.28 and a quick ratio of 1.38. The firm has a market cap of $1,950.00, a P/E ratio of 33.90, a P/E/G ratio of 13.01 and a beta of 0.08. New Gold has a 52-week low of $2.39 and a 52-week high of $4.41.
New Gold (NYSEAMERICAN:NGD) last posted its quarterly earnings data on Wednesday, October 25th. The basic materials company reported $0.01 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.01. The company had revenue of $142.50 million for the quarter, compared to analysts’ expectations of $176.12 million. New Gold had a net margin of 20.49% and a return on equity of 5.05%. New Gold’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 earnings per share. analysts anticipate that New Gold will post 0.05 EPS for the current year.
A hedge fund recently raised its stake in New Gold stock. Virtu Financial LLC increased its stake in New Gold Inc. (NYSEAMERICAN:NGD) by 397.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 349,676 shares of the basic materials company’s stock after purchasing an additional 279,337 shares during the period. Virtu Financial LLC owned approximately 0.06% of New Gold worth $295,000 as of its most recent SEC filing. Institutional investors and hedge funds own 51.53% of the company’s stock.
Several brokerages have recently weighed in on NGD. ValuEngine cut New Gold from a “hold” rating to a “sell” rating in a research report on Thursday, September 21st. BidaskClub cut New Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 23rd. Zacks Investment Research upgraded New Gold from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research report on Friday, September 29th. Credit Suisse Group upped their price target on New Gold from $3.00 to $3.30 and gave the company a “neutral” rating in a research report on Friday, September 29th. Finally, Scotiabank upped their price target on New Gold from $3.00 to $4.00 and gave the company a “sector perform” rating in a research report on Friday, September 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. New Gold presently has an average rating of “Hold” and a consensus price target of $4.12.
About New Gold
New Gold Inc is an intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. Its segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other. It has operating mines in Canada, the United States, Australia and Mexico; development projects in Canada, and a stream on gold production from a development property in Chile.
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