New Gold Inc. (NYSE:NGD) (TSE:NGD) has been assigned a consensus rating of “Hold” from the nine analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $3.88.
NGD has been the topic of several analyst reports. Royal Bank Of Canada set a $4.00 target price on New Gold and gave the company a “hold” rating in a report on Tuesday, July 18th. Zacks Investment Research upgraded New Gold from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock in a report on Tuesday, May 23rd. Raymond James Financial, Inc. reiterated a “market perform” rating and issued a $3.50 target price on shares of New Gold in a report on Thursday, June 15th. Finally, National Bank Financial upgraded New Gold from a “sector perform” rating to an “outperform” rating in a report on Monday, July 24th.
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Shares of New Gold (NYSE:NGD) traded up 1.79% on Friday, hitting $3.98. 3,957,705 shares of the stock traded hands. The stock has a market cap of $2.29 billion and a PE ratio of 41.03. New Gold has a 1-year low of $2.39 and a 1-year high of $4.99. The stock has a 50 day moving average of $3.51 and a 200-day moving average of $3.10.
New Gold (NYSE:NGD) (TSE:NGD) last announced its earnings results on Wednesday, July 26th. The company reported $0.02 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.02. New Gold had a return on equity of 4.03% and a net margin of 12.45%. The business had revenue of $185.60 million for the quarter, compared to analysts’ expectations of $181.17 million. During the same period in the prior year, the business posted ($0.02) earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. On average, equities research analysts expect that New Gold will post $0.06 EPS for the current year.
A number of hedge funds have recently made changes to their positions in NGD. World Asset Management Inc boosted its holdings in New Gold by 6.8% in the second quarter. World Asset Management Inc now owns 33,894 shares of the company’s stock valued at $108,000 after acquiring an additional 2,162 shares during the last quarter. First Manhattan Co. bought a new position in shares of New Gold during the 2nd quarter worth approximately $135,000. Pacad Investment Ltd. boosted its holdings in shares of New Gold by 25.0% during the 2nd quarter. Pacad Investment Ltd. now owns 46,500 shares of the company’s stock worth $148,000 after buying an additional 9,300 shares in the last quarter. Advisor Group Inc. boosted its holdings in shares of New Gold by 4.5% during the 2nd quarter. Advisor Group Inc. now owns 46,794 shares of the company’s stock worth $149,000 after buying an additional 2,000 shares in the last quarter. Finally, Two Sigma Securities LLC bought a new position in shares of New Gold during the 1st quarter worth approximately $166,000.
New Gold Company Profile
New Gold Inc is an intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. Its segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other. It has operating mines in Canada, the United States, Australia and Mexico; development projects in Canada, and a stream on gold production from a development property in Chile.
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