Other equities research analysts have also recently issued research reports about the stock. Desjardins upgraded shares of New Gold from a hold rating to a buy rating in a research report on Friday, September 16th. Canaccord Genuity upgraded shares of New Gold from a hold rating to a buy rating and increased their target price for the stock from $6.25 to $7.75 in a research report on Tuesday, July 12th. Zacks Investment Research upgraded shares of New Gold from a hold rating to a buy rating and set a $5.50 target price for the company in a research report on Saturday, July 9th. RBC Capital Markets reiterated a sector perform rating and set a $7.00 target price (down previously from $7.60) on shares of New Gold in a research report on Wednesday, September 14th. Finally, National Bank Financial reiterated a sector perform rating and set a $8.10 target price (up previously from $7.00) on shares of New Gold in a research report on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $5.74.
Shares of New Gold (NYSEMKT:NGD) traded up 1.52% during mid-day trading on Tuesday, hitting $4.01. 4,424,192 shares of the stock were exchanged. New Gold has a 1-year low of $1.76 and a 1-year high of $6.04. The company’s 50-day moving average is $4.90 and its 200-day moving average is $4.54. The firm’s market cap is $2.06 billion.
New Gold (NYSEMKT:NGD) last announced its earnings results on Wednesday, July 27th. The company reported $0.03 earnings per share (EPS) for the quarter. The firm had revenue of $180.30 million for the quarter, compared to analyst estimates of $163.44 million. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.02 EPS. Equities research analysts anticipate that New Gold will post $0.07 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NGD. FMR LLC raised its position in New Gold by 7.5% in the second quarter. FMR LLC now owns 12,692,459 shares of the company’s stock valued at $55,507,000 after buying an additional 884,700 shares during the last quarter. Vanguard Group Inc. raised its position in New Gold by 14.0% in the second quarter. Vanguard Group Inc. now owns 8,740,825 shares of the company’s stock valued at $38,285,000 after buying an additional 1,074,075 shares during the last quarter. Ingalls & Snyder LLC purchased a new position in New Gold during the second quarter valued at $36,725,000. TD Asset Management Inc. raised its position in New Gold by 126.3% in the second quarter. TD Asset Management Inc. now owns 7,684,806 shares of the company’s stock valued at $33,432,000 after buying an additional 4,289,674 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in New Gold by 50.5% in the first quarter. Renaissance Technologies LLC now owns 5,705,800 shares of the company’s stock valued at $21,283,000 after buying an additional 1,914,000 shares during the last quarter.
About New Gold
New Gold Inc is a Canada-based intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. The Company has operating mines in Canada, the United States, Australia and Mexico and development projects in Canada. The Company’s segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other.
Receive News & Ratings for New Gold Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Gold Inc. and related companies with MarketBeat.com's FREE daily email newsletter.