New Gold (NYSEAMERICAN:NGD) Shares Down 4.6%

Shares of New Gold Inc. (NYSEAMERICAN:NGD – Get Rating) fell 4.6% during mid-day trading on Thursday . The stock traded as low as $1.15 and last traded at $1.16. 1,931,282 shares were traded during trading, a decline of 26% from the average session volume of 2,611,045 shares. The stock had previously closed at $1.22.

Analyst Ratings Changes

Several research analysts have commented on the stock. National Bank Financial raised their price target on shares of New Gold from C$1.60 to C$1.75 in a report on Friday, January 13th. TD Securities cut New Gold from a “hold” rating to a “reduce” rating and set a $0.85 target price on the stock. in a report on Tuesday, December 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $1.47.

New Gold Stock Down 4.5 %

The firm has a market cap of $794.86 million, a price-to-earnings ratio of 8.43, a P/E/G ratio of 4.16 and a beta of 1.48. The company has a current ratio of 2.25, a quick ratio of 1.68 and a debt-to-equity ratio of 0.39.

New Gold (NYSEAMERICAN:NGD – Get Rating) last released its earnings results on Thursday, November 3rd. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.02). New Gold had a net margin of 15.68% and a return on equity of 0.50%. The company had revenue of $151.20 million for the quarter. Equities analysts predict that New Gold Inc. will post -0.07 EPS for the current fiscal year.

Institutional Trading of New Gold

Several institutional investors have recently made changes to their positions in NGD. Commonwealth Equity Services LLC purchased a new position in shares of New Gold in the 3rd quarter valued at approximately $25,000. Bluefin Capital Management LLC purchased a new stake in New Gold in the 3rd quarter valued at about $26,000. Boenning & Scattergood Inc. purchased a new position in shares of New Gold during the 4th quarter valued at approximately $26,000. Virtu Financial LLC acquired a new stake in New Gold in the first quarter worth $33,000. Finally, Quantbot Technologies LP purchased a new stake in shares of New Gold in the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 31.92% of the company’s stock.

New Gold Company Profile

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New Gold, Inc is a gold mining company, which engages in the operation, development and exploration of mineral properties. Its portfolio includes Rainy RIver, New Afton, and Cerro San Pedro. The company was founded on January 31, 1980 and is headquartered in Toronto, Canada.