New Gold (NYSEAMERICAN:NGD) Shares Gap Down to $1.75

Shares of New Gold Inc. (NYSEAMERICAN:NGD) gapped down before the market opened on Monday . The stock had previously closed at $1.75, but opened at $1.69. New Gold shares last traded at $1.73, with a volume of 5,030,425 shares.

Analyst Ratings Changes

Several research firms have commented on NGD. National Bank Financial reissued a “sector perform spec overwgt” rating on shares of New Gold in a research note on Monday, April 8th. StockNews.com downgraded shares of New Gold from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th. Finally, Scotiabank lifted their price target on shares of New Gold from $1.65 to $2.00 and gave the stock a “sector perform” rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $1.64.

New Gold Stock Down 2.0 %

The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.54. The company has a market capitalization of $1.18 billion, a P/E ratio of 25.00, a price-to-earnings-growth ratio of 1.16 and a beta of 1.54.

New Gold (NYSEAMERICAN:NGD) last issued its earnings results on Tuesday, February 13th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $199.20 million during the quarter. As a group, analysts anticipate that New Gold Inc. will post 0.04 EPS for the current year.

Institutional Trading of New Gold

Several large investors have recently added to or reduced their stakes in NGD. First Citizens Bank & Trust Co. bought a new stake in New Gold in the third quarter valued at $61,000. Independent Family Office LLC bought a new stake in New Gold in the fourth quarter valued at $123,000. Baader Bank Aktiengesellschaft boosted its holdings in New Gold by 812.7% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 91,267 shares of the basic materials company’s stock valued at $132,000 after acquiring an additional 81,267 shares in the last quarter. Ingalls & Snyder LLC boosted its holdings in New Gold by 116.6% in the fourth quarter. Ingalls & Snyder LLC now owns 123,842 shares of the basic materials company’s stock valued at $181,000 after acquiring an additional 66,667 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in New Gold in the fourth quarter valued at $206,000. Institutional investors own 42.82% of the company’s stock.

About New Gold

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.