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

Shares of New Gold Inc. (NYSEAMERICAN:NGD) have been assigned a consensus rating of “Hold” from the five analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given 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.

Several equities analysts recently commented on the company. Scotiabank upped their price objective on New Gold from $1.65 to $2.00 and gave the company a “sector perform” rating in a research note on Monday, April 8th. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of New Gold in a research note on Monday, April 8th. Finally, StockNews.com downgraded New Gold from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th.

New Gold Stock Performance

Shares of NYSEAMERICAN NGD opened at $1.82 on Tuesday. New Gold has a twelve month low of $0.86 and a twelve month high of $1.94. The company has a market capitalization of $1.26 billion, a PE ratio of -20.22, a price-to-earnings-growth ratio of 0.56 and a beta of 1.54. The company has a current ratio of 1.54, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51.

New Gold (NYSEAMERICAN:NGD) last announced its earnings results on Tuesday, February 13th. The basic materials company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $199.20 million during the quarter. As a group, research analysts anticipate that New Gold will post 0.09 EPS for the current fiscal year.

Institutional Investors Weigh In On New Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of NGD. HC Advisors LLC increased its holdings in shares of New Gold by 13.4% in the fourth quarter. HC Advisors LLC now owns 214,559 shares of the basic materials company’s stock worth $313,000 after purchasing an additional 25,300 shares during the period. American Century Companies Inc. increased its holdings in shares of New Gold by 1.0% in the third 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 period. Ingalls & Snyder LLC increased its holdings in shares of New Gold by 116.6% in the fourth quarter. Ingalls & Snyder LLC now owns 123,842 shares of the basic materials company’s stock worth $181,000 after purchasing an additional 66,667 shares during the period. First Citizens Bank & Trust Co. bought a new position in shares of New Gold in the third quarter worth $61,000. Finally, Baader Bank Aktiengesellschaft increased its holdings in shares of New Gold by 812.7% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 91,267 shares of the basic materials company’s stock worth $132,000 after purchasing an additional 81,267 shares during the period. 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.