New Gold (NYSE:NGD) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of New Gold (NYSE:NGD) from a hold rating to a buy rating in a research report sent to investors on Wednesday.

Other analysts also recently issued research reports about the stock. National Bank Financial reissued a sector perform spec overwgt rating on shares of New Gold in a report on Monday, April 8th. Scotiabank boosted their price target 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $1.64.

New Gold Stock Performance

NGD opened at $1.81 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.54. New Gold has a 1 year low of $0.86 and a 1 year high of $1.95. The firm has a market capitalization of $1.25 billion, a P/E ratio of -18.10, a PEG ratio of 0.59 and a beta of 1.53.

New Gold (NYSE:NGD) last posted its earnings results on Tuesday, April 30th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. New Gold had a positive return on equity of 4.85% and a negative net margin of 9.81%. The company had revenue of $192.10 million during the quarter. As a group, sell-side analysts anticipate that New Gold will post 0.09 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NGD. Moloney Securities Asset Management LLC bought a new stake in New Gold during the first quarter worth $42,000. First Citizens Bank & Trust Co. acquired a new position in shares of New Gold during the 3rd quarter worth $61,000. Independent Family Office LLC acquired a new position in shares of New Gold during the 4th quarter worth $123,000. Baader Bank Aktiengesellschaft lifted its position in shares of New Gold by 812.7% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 91,267 shares of the company’s stock worth $132,000 after buying an additional 81,267 shares during the last quarter. Finally, Ingalls & Snyder LLC boosted its stake in New Gold by 116.6% in the fourth quarter. Ingalls & Snyder LLC now owns 123,842 shares of the company’s stock valued at $181,000 after buying an additional 66,667 shares in the last quarter. 42.82% of the stock is owned by institutional investors.

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.