Several other research analysts have also recently weighed in on NGD. Bank of America Corp. set a $5.60 price objective on New Gold and gave the stock a hold rating in a research report on Sunday, September 11th. Royal Bank Of Canada reiterated a sector perform rating on shares of New Gold in a research report on Wednesday, June 29th. Zacks Investment Research upgraded New Gold from a hold rating to a buy rating and set a $5.50 price objective on the stock in a research report on Saturday, July 9th. National Bank Financial restated a sector perform rating and issued a $8.10 price target (up previously from $7.00) on shares of New Gold in a research report on Thursday, August 4th. Finally, Canaccord Genuity upgraded New Gold from a hold rating to a buy rating and raised their price target for the stock from $6.25 to $7.75 in a research report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $5.74.
New Gold (NYSEMKT:NGD) opened at 3.85 on Friday. The firm’s market cap is $1.97 billion. The company’s 50-day moving average is $4.74 and its 200 day moving average is $4.54. New Gold has a 12 month low of $1.76 and a 12 month high of $6.04.
New Gold (NYSEMKT:NGD) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.03 earnings per share for the quarter. The firm had revenue of $180.30 million for the quarter, compared to the consensus estimate of $163.44 million. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.02 EPS. Equities research analysts expect that New Gold will post $0.08 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in the stock. Lincluden Management Ltd. raised its stake in shares of New Gold by 4.7% in the second quarter. Lincluden Management Ltd. now owns 14,840 shares of the company’s stock worth $107,000 after buying an additional 665 shares during the last quarter. Brave Asset Management Inc raised its stake in shares of New Gold by 1.7% in the second quarter. Brave Asset Management Inc now owns 120,300 shares of the company’s stock worth $527,000 after buying an additional 2,000 shares during the last quarter. World Asset Management Inc raised its stake in shares of New Gold by 7.8% in the second quarter. World Asset Management Inc now owns 31,716 shares of the company’s stock worth $139,000 after buying an additional 2,297 shares during the last quarter. Oxbow Advisors LLC raised its stake in shares of New Gold by 7.4% in the second quarter. Oxbow Advisors LLC now owns 34,660 shares of the company’s stock worth $152,000 after buying an additional 2,390 shares during the last quarter. Finally, LPL Financial LLC raised its stake in shares of New Gold by 1.2% in the first quarter. LPL Financial LLC now owns 207,454 shares of the company’s stock worth $782,000 after buying an additional 2,482 shares during the last quarter.
New Gold Company Profile
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.