Investment Analysts’ Recent Ratings Updates for New Gold (NGD)

Several brokerages have updated their recommendations and price targets on shares of New Gold (NYSEAMERICAN: NGD) in the last few weeks:

  • 10/26/2019 – New Gold was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $1.00 price target on the stock. According to Zacks, “New Gold Inc. is focused on the exploration and development of the Afton Copper-Gold Project, located 6 miles (10 km) west of Kamloops, British Columbia. “
  • 10/25/2019 – New Gold was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “New Gold Inc. is focused on the exploration and development of the Afton Copper-Gold Project, located 6 miles (10 km) west of Kamloops, British Columbia. “
  • 10/19/2019 – New Gold was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “New Gold Inc. is focused on the exploration and development of the Afton Copper-Gold Project, located 6 miles (10 km) west of Kamloops, British Columbia. “
  • 10/18/2019 – New Gold was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $1.00 price target on the stock. According to Zacks, “New Gold Inc. is focused on the exploration and development of the Afton Copper-Gold Project, located 6 miles (10 km) west of Kamloops, British Columbia. “
  • 10/15/2019 – New Gold was given a new $1.40 price target on by analysts at CIBC. They now have a “hold” rating on the stock.
  • 9/18/2019 – New Gold was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “New Gold Inc. is focused on the exploration and development of the Afton Copper-Gold Project, located 6 miles (10 km) west of Kamloops, British Columbia. “
  • 9/12/2019 – New Gold was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $1.25 price target on the stock. According to Zacks, “New Gold Inc. is focused on the exploration and development of the Afton Copper-Gold Project, located 6 miles (10 km) west of Kamloops, British Columbia. “
  • 9/5/2019 – New Gold was upgraded by analysts at Royal Bank of Canada from an “underperform” rating to a “sector perform” rating. They now have a $1.30 price target on the stock, up previously from $1.00.
  • 8/31/2019 – New Gold was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.

Shares of NGD stock traded down $0.03 during mid-day trading on Monday, reaching $0.97. The stock had a trading volume of 211,933 shares, compared to its average volume of 4,822,794. The stock’s 50-day moving average price is $1.20 and its two-hundred day moving average price is $0.98. New Gold Inc has a 52-week low of $0.61 and a 52-week high of $1.56.

New Gold (NYSEAMERICAN:NGD) last released its quarterly earnings data on Thursday, August 1st. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The firm had revenue of $155.10 million during the quarter, compared to analysts’ expectations of $166.10 million.

Several hedge funds have recently added to or reduced their stakes in the business. Commerzbank Aktiengesellschaft FI increased its position in shares of New Gold by 6.2% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 6,111,905 shares of the basic materials company’s stock valued at $6,173,000 after acquiring an additional 358,582 shares during the period. CLARET ASSET MANAGEMENT Corp increased its position in shares of New Gold by 111.5% in the third quarter. CLARET ASSET MANAGEMENT Corp now owns 550,000 shares of the basic materials company’s stock valued at $552,000 after acquiring an additional 290,000 shares during the period. Hexavest Inc. increased its position in shares of New Gold by 3.3% in the third quarter. Hexavest Inc. now owns 2,258,338 shares of the basic materials company’s stock valued at $2,281,000 after acquiring an additional 73,051 shares during the period. River & Mercantile Asset Management LLP purchased a new position in shares of New Gold in the second quarter valued at about $908,000. Finally, Schroder Investment Management Group purchased a new position in shares of New Gold in the second quarter valued at about $1,684,000. Hedge funds and other institutional investors own 51.53% of the company’s stock.

New Gold Inc, an intermediate gold mining company, engages in the development and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's operating properties include the Rainy River project located in Ontario, Canada; the New Afton project located near Kamloops, British Columbia, Canada; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.

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